Met my profit goal today, and was relieved that there were chances to sell RIMM and SPY call with tiny profit this week, considering they were negative for a few days.
We are at a critical point today with spy dropped down to 103, which is at the trend line from Oct. 14, 2008. Tomorrow's employment report will most likely determine whether this will be a support or a break down. I might try a spy 104 c and 102 p straddle just to test it out. Might also buy some VIXX if there's downward momentum.
This week's P/L run down so far:
Mon: $662 (gained mostly from exiting AZO and TRIT swings)
Tue: -$885 (big loss in MNKD and SNDA -- see foot notes)
Wed: -$260 (loss in various stops, should have let CTRP run on profit that day)
Thu: $507 (more details to follow...)
It looks like tomorrow will decide whether this week will be a profitable week. :)
Notes:
MNKD - momentum play gone wrong by doing DD multiple times. Should cut loss quick in this kind of play... remember, first chance to cut loss yields the least loss (-20 vs -730).
SNDA - again, DD instead of taking first loss led to larger loss.
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