Monday, July 11, 2011

What to do now?

Puts bought 2 weeks ago and last week are up nicely, very nicely.    Some are profitable, some are still struggling to get back to even.

Banked Cable profits already, maybe too soon, but the market will continue to go up and down, and when there is money in the account the chance to jump on opportunities is there!

Now what to do?  

Thinkorswim of course did an update over the weekend.   It is not even funny....if something big is about to happen, seems like an update or 2 or 3 back to back updates, is their norm.   And of course.....90% of all of my preformatted charts with Bernoulli channels on them are wiped out....those bastards, seriously.

For me, wiping out my Bernoulli and Fibonacci's is like throwing a bushel of mushroom soup on ones' windshield while driving, effectively I am blind.

So what to do?  
Visit Breakpoint Trades (BPT) and check the blog.   Perhaps Steve and Matt have some timely charts up, or perhaps some of the talented readers are posted ideas.

Closed out a trade on GWMGF, a trade idea from BPT, 2500 shares bought at .70, closed at .785.

Small money= $1750, but profit of $200, or 11% in less than 2 weeks.    Of course the goal is to make money, not just pay for the $240 6 month membership.   But obviously you could see what would happen with 10 of these trades, or trading say 10,000 shares.   


  1. Whenever I don't know what to do, I go to cash.

  2. Note to self: don't move to Italy. That means the list is now Greece, Spain, Portugal, Ireland, Italy, anywhere in Africa, most of Asia and South America, Russia, former USSR republics, and Lichtenstein, Switzerland, Belgium, and Luxembourg, just for the way they massacre the human ability of speech.

    Now, Hawaii....there's a place....

  3. Pretty darn socialist and corrupt over here, the smaller the island the more corrupt it is.  No joke, makes Chicago look like a nunnery, thats why Dabama ate up Chicago.

  4. did cash out some puts that were in the money/profitable.   However futures just tanked 5 points before European session, odd to say the least. 


Insightful and Useful Comment!