Wednesday, October 29, 2008

Nobody Knows anything... But i digress... Oops forgot UUP puts

Well forget what i said about the Pro Bloggers... I was giving them TOO MUCH PRAISE. I will say that Gio told me to 'keep that put.' All this talk about bottom from the bloggers i follow had me rid of my most useful hedge: FXI. This totally stinks...

What time to learn something like this... i bought the calls too early and sold my only real hedge.

OK... WHEW... got that rant out of the way...
I see no reason to position for earnings (thus forget listing them... what a waste of time) when days are like this... seriously. the sell off in the final hour (while i was sleeping from nightshift), was totally a joke. 'Chart swing trader' is not convince of any direction at this point and is sitting out until things clearly go one way. He acknowledges we 'could' be in for a follow through, but nothing has signaled an 'all in' attitude yet.

Having said that this is what i see
today bot: AAPL Dec 150 call @.40 ... bid .37 /last .51
today bot: HK Nov 22.5 call @.45 ... bid .25 bid/last .5
yesterday bought PCX Dec 30 @.15 ... bid .20/ last .15

my lone put was FXI jan 50: a nonstandard issue but much action. i lost out a 20%, altho in the end it was a 630% gain. Gio warned me to keep my lone put. I am crying about not making more... why? anyway...

Things dont always go the way we plan and neither appear as bad OR good. Especially in THIS market. A possible follow through is still in the making. The thing is it may take weeks versus days. So minus my NOV calls, the rest will play out the year end rally. I might even add to it with POT calls if we start sharp in the red tomorrow. How did i not trade for POT? Anyway, any rally sign MUST include POT... (and i aint talking drugs)

Lastly i forgot to buy puts on UUP... what a no brainer... anyway, i will get in somehow, just when... i have no idea, but yesterday would have been the best time to do so.

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