Atilla maybe the best trader. He made some very "stupid" moves yesterday and then today, hedging to the down side, while market actually went up from where he hedged. But I think about this, he is really smart and shrewed.
- He sensed that maybe this is not the low, maybe we'll have another capitulation before the rally, so he kept enough cash and only have a small positions in.
- I was really stupid by not selling my profitable C, BGU,SSO by the close of yesterday afternoon, and I was bad to even added BAC calls this morning.
- I reversed this by selling off SOO,BGU and C, all for losses in IRA, ST and ET. To keep enough cash.
- The key is to have enough cash to ride the market, specially if there are a 10% drop in the market. On the other hand, reduce TNA when I have the chance. Another 10% means 30% in my TNA, which is big.
- These traders are not on xTrends to show their stupidity, they are really good.
- Still like the sold of TNA puts, if I was careful last Friday, I should only do that and keep all the 27K. Instead, now I added BAC calls, 2 TNA. Bad, really bad.
- And I could just waited yesterday and sell FAS,BGU and SSO for good profit in the afternoon, but I sold early due to Atilla's alert. Another bad move.
- I bought WFR and sold covered calls on these, that's good. Think as solid as POT purchases and covered calls should yield good results for me.
- Now, let's wait and wait, and don't jump in with both feet, until it's down under 700, then I will bet big.
