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List,
Well, we have a buy signal, but are hesitant to pull the trigger, so we'll
do it half way. :)
I am taking my son and friends to a water park for the day, so will be out
of touch, so I reversed this morning. My brother, OTOH, is still short and
will be looking for a time to buy, maybe at the close.
On a bright note, those calls that I sold and was under water on, didn't do
too badly yesterday and went in my favor this morning, so I broke even. If
I had time and could have held on for another hour, I would have made $4
profit. Oh well, still not bad for the first time. A preliminary analysis
says we're better off selling puts and calls than buying them, but again,
that's from an experience of two trades.
Even though I knew I should wait, getting ready for this all day excursion
took me away from my trading. Has been an expensive party and we haven't
even left home.
For all of you keeping track, the last trade was a loser (approximately 19
points for the S&P futures). That brings the record to 17 winners out of 21
trades for an 80.95% profitable ratio since last October. Still not too bad
considering we don't have a system. :)
Oh well, I only hope this trip today doesn't cost me much more than the
$8,000 so far. Thank goodness for small favors, but with the weak opening
and the next half hour, I made an additional $5,000 or the numbers would
have been even worse.
Guy
Paranoia...you only have to be right once to make it all worthwhile!
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