Did the program correctly today, LOL. Anyway, good MRK. Quick 25 cents on double layers.... Overall average of 25 cents as well. No losers. Back to it tomorrow. Don
I am using two retracements of 6c and 25c each taking me out of 50% of position with a 25c hard stop taking me out of full position.
The opening was fine....DD, CVS and GE, but accidentally shorted CVS after covering (my error)...and then started to buy GE all the way down to 12.62, geez GE at $12 whoda thought? Don
On that note, Don do you have any "historical" perspective on some of the selling going on in famous names? What do you think of the banks and autos? What is the Bright portfolio up to?
When they started disallowing shorting of the financials etc., we sold a major portion of the long side, leaning short deltas, offsetting with options, both calls and puts to capitalize on some of this higher VIX. My brother does a good job balancing options/futures/equities for the long term. Personally, I've avoided the banks and autos for quite some time. Sticking with other industries for the openings and MOC's etc. Too much "news" ...I tend to avoid news stocks. Don (cautious sells this morning, well see).
Good one VinMan. Did not play yesterday. Record day today (max number of fills, $ profit). 24 fills, 18 longs, 6 shorts, 21 winners (5 close to flat), 3 losers (all smalls). +0.22 average. Did see some downside on some, had trouble handling all that. Really went for it. Now off for one month, other biz going on. Might play a couple days. Back on december 19. Good luck everyone.