Friday, May 20, 2005
5/20/05 option expire Friday
Today I get paid for all the short may options that are expiring! I need that money... got a mortgage to pay you know!
I am net short from yesterday... my breakeven is 118900. My plan is to cut my position in 1/2 this morning before 11:00 and then hold the rest of that trade until next week as a longer term trade. That's a great one trade that I agree with. Ragetrader and I are both taking this longer term trade, and yes, Rage, we need to make sure to keep our short-term and long-term stuff separate in our minds. I too have a tendency to take off a longer-term trade just because I can capture a short-term gain.
Yesterday's action was amazing. I just wanted to reiterate again that compared to the 3 previous days, it was much weaker and looked like market topping to me.
So far this morning the market has been weaker... future have come off all night and are now at 118900... my breakeven. I would really like to make my profits early and then take the rest of the day off.
Trader X
I am net short from yesterday... my breakeven is 118900. My plan is to cut my position in 1/2 this morning before 11:00 and then hold the rest of that trade until next week as a longer term trade. That's a great one trade that I agree with. Ragetrader and I are both taking this longer term trade, and yes, Rage, we need to make sure to keep our short-term and long-term stuff separate in our minds. I too have a tendency to take off a longer-term trade just because I can capture a short-term gain.
Yesterday's action was amazing. I just wanted to reiterate again that compared to the 3 previous days, it was much weaker and looked like market topping to me.
So far this morning the market has been weaker... future have come off all night and are now at 118900... my breakeven. I would really like to make my profits early and then take the rest of the day off.
Trader X
