charts/tape reading

The market doesn't care what I or anyone else says.
The market is the final authority of profits or losses.
That's why it's smart to listen closely to what the market has to say.

One way to look at is ignore noise (news) and focus on charts as the resistance/support/hammer/volume is how the market is saying what it wants to say.

Thursday, December 1, 2011

covered call exited

Exited the covered call as there is no point in waiting for 2 more days:

call bought @15.4 and AAPL sold for 385.55 for a net $4.41 profit (which is more than what I'd get [$4.26] if I wait for the cov call to expire on Dec 2nd)

% wise ==> 1.2% for around 3 weeks amounting to around 15% annual return....Yahooo :)

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