Thursday, February 12, 2009

Great entry/exits

  1. Recently AMZN, a limit order to short, at 63.5. It gapped up 20% to closed at 59.9, then waited three days and shorted at 63.5. Closed at 61.9, I think.
  2. AZO, new high, and market was overbought. Shorted at 144 (day high 146). Closed today at 137.88. Could close at 135.
  3. Missed POT shorts at 96 and MOS at 48. POT just two days later, low at 82 and MOS , low at 42.
  4. Missed SRS. Sold at 65, bought back at 62.5. It went all the way back to 51! I sold one SRS July 50 puts at 15.2 when it's 53. Like I said, if I waited one more day, I can get in at 56, another day, I can get in at 51.
  5. That's why today I didn't chase. Yes I may miss it. Unless Atilla calls for a terminal move, I'll wait and have enough qqqq puts.
  6. Think about this, Yesterday, can sell SRS at 66 (if I bought at 53 on Monday), and bought back at 59.9 at the close yesterday. Then today, I can sell at 70.
  7. These are the kind of trades I need to learn.
  8. Beanies said one thing right, don't use front month options, it will kill you sooner or later. And If I have front month options and have 30% profits, what am I waiting for? Even the March puts, I should exit. Greed, then fear, that's what killed mole's trades, even with so many great calls.
  9. KC seems like is the one who claimed he did this all the time. Learned something everyday.
  10. Just the last few minutes, if I went calls, I could make a killing, like 20-30%. That's the trade I experienced in 07, which killed me. But I found out in OEX day again and again.
  11. Let's use 90% solid. 2-3% next month options, and then 1% front month options.
  12. That's the trade I need and I think I can most of the time waiting.

  1. LT.Bear market.
  2. IT.Bear market.
  3. ST. Using charts(oversold, etc).
  4. Taking profits from shorts at critical supports are important, like today.
  5. Also my selling OTM puts continue to be a great strategy!
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