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.

Tuesday, February 21, 2012

1 percent trade

got into the following trade on last Friday...

 bought 2 GMCR(@69.4) Mar 55 calls for $14.8 [looking for a 5.2 (35%) profit and a stop loss of 1.8(12%); 3/5/2012 will be deadline; So allowing 2 weeks for this to play out]

currently on Tuesday; 11pm EST it's @70.75 ($16.2). So it's going good.
Posted by at 7:58 AM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)