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Fall is beautiful

Published on May 10, 2007

Fall is beautiful

May 10, 2007

Today’s market fall was not really a surprise and I welcome that. I had sold my speculative trades after the fed announcement when Mr market was happy and it was going up. There is no point in talking coulda, would, shoulda but OP readers know that I had sent an alert earlier not to begin new positions at least till tomorrow i.e. friday.

I reviewed only 2 trades-

  • OPWV has roughly resulted in 30% gains in one day, and it shouldn’t be surprise either as I had sent alert on that too. The positions are still open.
  • WNG was on the radar list and I had sent an alert to registred users for $70 PUTs. Stock was at $70.5 roughly that time. I didn’t dare to open that trade as the bid/ask spread was too wide to make money confidently. It closed at $67.5, a nice $3 drop (I also mentioned before the begining of trading day that I like loser today and WNG was in the pre-market list).

Let’s see how markets open tomorrow, funds are free now to make fresh purchases.

Profitable trading, OptionPundit

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