Tuesday, November 4, 2008

SOLD HK calls (late)/Held WYNN puts & PCX calls... Missed MA.

Well, i had to bite the bullet. I sold my loser HK...My not being disciplined in setting stops cost me the gains over the last couple of weeks in one of my accounts.

WYNN sank today but somehow rallied in the end. Tim bought more puts in these guys so that is on my side. But watching how i am unable to get back to the original value based on the stock price i bought it at certainly shows how time decay affects options.

I didnt buy NOC/GD/LMT/BA based on the election... So i will learn if the election matters to those stocks tomorrow. Long term i do think they will get a blasting if Obama gets in.

Mastercard is a monster! Their earnings gets me thinking about making those long earnings list again... sigh... but if i participate in stocks like MA then it would be worth it. It is hard to compare it with V & AXP and the fact that its election day only added to the buying spree attitude.