Trading is tough. I want to take a look at my "crappy" qqqq put trade made on Friday as described in in my "good week, bad day" post last week.
I had accumulated a large position in QQQQ puts throughout the day as the market continued to trickle lower. I purchased puts at each red circle below, only to sell them at the high of the day (blue circle) when the market rocketed higher after the Whitehouse said it did not favor nationalizing the banking system.
Today as I write this the QQQQ is back to exactly where we were before the Whitehouse rumors on Friday afternoon (green circle), and is currently threatening to break lower.
So the point is, trading is tough. The market bounced so hard on Friday, that I was stopped out of my position for a big loss. Ok, so that is the story of a bad trade....
MOVING FORWARD (as you must in trading) AZO, after moving higher this morning looks pretty weak right now, and my IWM puts and KRE puts purchased during Friday's "Whitehouse" bounce are performing well.
My best position of the day is currently my AET puts. The stock is currently down 5%.
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