Wednesday, August 08, 2007

 

Buy, Sell - 1 POT Sep 90 Call @ 7.20 (Bought @ 7.00)


This was a lucky escape. POT looked good to me breaking, IMO, resistance @ 92, and the market was looking good. In hindsight, I don't think the bar at which I bought it was a good buying point, since it's got a long upper shadow. I decided to sell it when I saw the Dow lose 60 points in quick time and POT looked like it made a double top. After commissions, I made 5 bucks on this trade :) Oh well, better than holding it and having a 150 buck paper loss.
It's a weird market out there..

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Comments:
well for some damn reason i'm tryin to trade NOV again. i got in a SEP115 Call @ $6.5 today. i try to stay away from trading the same stock too many times but i think we'll see a bounce from here. maybe. if the market doesn't completely blow apart.
j.M
 
Good luck with your trade. It seems to be getting close to the 50 day MA, so it could hold that as support.
Crazy market out there.
AJ
 
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