Tuesday, June 12, 2007


Buy - CAL 22.50 JUL Call @ 12.50

While the whole world was short CAL, I decided to buy a call on this. Big mistake. Never try to swim against the current!
Will hold this for a day or so, if the pain is too much, will get rid of it.

I got caught in a bull trap on this one. I should have waited for a confirmation on this. The correct way to have played this - Trader Jamie.

Lesson: Don't fight the trend. Always wait for confirmation.

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