I traded the first 2 hours and made a trade in the afternoon. You'll notice I put on option position on POT. I bought 1 PUT strike 195 for the month of June, costing $1,745. My target is for POT to go back down to 180-185 in the next few weeks as I feel the stock is overbought, and some of the Ag futures look like they could be setup to rollover in the next few weeks if my theory on a head and shoulders formation is correct. I'm gonna give this PUT some time to play out, but hope to be out of my position by mid May if not sooner.
Wednesday, April 16, 2008
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6 comments:
it looks like u had a nice day with the ER2
it would be cool if u could work with a programmer to automate your system
I'm working on it.
good call on those POT puts. Mucho grande kahunes! nice trade bud!
Hope you banked some coin today, POT played out nice.
i made out decently today: but i played X, POT and MOS long. i bot that morning dip in anticipation of a last ditch rally effort. booked 2K. not bad, could have a little better but i am happy. waiting till the close to see what this mrkt wants to do. looks very choppy out there.
Nice. I think I'm done for the day. Expecting chop with OPEX tmrw.
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