Well, for almost 3 hrs, I thought my steel balls were going to be crushed by the bear claws :) Shorted OCT puts of X ($55), AKS (15), FSLR (125), WLT (25), and FCX (35), and did not cover. I did chicken out on AAPL, MA, DVN, MON, and APA, well, you just cannot win them all. The only question now is if I should lock in some profits tomorrow or hang in tough to let all options expire. Make no mistake, it is still a bear's country....
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Note on Trading Calls
Trading calls must be re-evaluated when there are significant and material events, either company specific (news/analyst actions) or the market as general (rate cuts, etc).
Abbreviations
SW: Swing Trading (3-10 days)
MT: Momentum Trading (overnight-5 days)
DT: Day Trading
CTT: Counter Trend Trading (trade against the trend when approaching key support/resistance (S/R) levels coupled with tight stop-loss points)
L: Long play with L1 the strongest L3 the weakest
S: Short play with S1 the strongest S3 the weakest
CS: Closing stop-loss point
IDS: Intra-day stop-loss point
EZ: Entry Zone
IT: Initial Target for profit
PL: Potential Loss
r/r: Risk/Reward Ratio
MA: Moving Average
EMA: Exponential Moving Average
MT: Momentum Trading (overnight-5 days)
DT: Day Trading
CTT: Counter Trend Trading (trade against the trend when approaching key support/resistance (S/R) levels coupled with tight stop-loss points)
L: Long play with L1 the strongest L3 the weakest
S: Short play with S1 the strongest S3 the weakest
CS: Closing stop-loss point
IDS: Intra-day stop-loss point
EZ: Entry Zone
IT: Initial Target for profit
PL: Potential Loss
r/r: Risk/Reward Ratio
MA: Moving Average
EMA: Exponential Moving Average
2 comments:
If you are able to let the options expires, you are bound to make alot of dough since the premium collection is good.
what if the market keeps going down for next 5 days? hehe
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