Today was a choppy day and a bad one for me. I established more long positions in anticipation of a rally into the close, and although the bulls tried, there is just to much weakness and no catalyst in this market to go higher.
I purchased:
SPY calls
MET calls
OIH (oil servicers) calls
My account is now positioned 60/40 bullish, and its not a good feeling to have a bullish slant in this market. I will try to be patient with my calls, but it's not going to be easy. I will definitely cut losses before they get out of hand because right now it looks like we're headed into a bottomless pit.
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Stock Analysis for Traders and Investors
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