Update: Added more puts today, strike 70, $1.25. So far I'm in the red and it seems that I made a fool out of myself by posting my trades. But I really don't care.
Very true. I commend Heil for posting his trades to begin with. A true trader that puts his $ where his mouth is.
The reason why some other stocks in the sector such as CAT PCAR CUM etc. are trending very strongly upwards and making 52 wk highs - *I suspect* - is as a possible target in a consolidation sector play with the likes of Daimler Chrysler (DCX), Volvo et al looking them over. CAT's money inflows over the past 1.5 mths has been the highest for all the DOW stocks. Volume over this time has also doubled... Maybe there is something that big money already knows about? Look to an imminent announcement soon from the likes of Daimler-Chrysler, Volvo etc.. It sure as heck isn't because of "fundamentals" - there is a glut of supply in the industry, LOL. Technicals also very strong. Let this thread be a lesson for those who short on triple volume breakouts - as on 7/17. And in addition compound their trading problems by layering short-dated OTM puts and whatnot as well. Rather than picking tops I'd prefer to follow da big boyz money... LOL
Well, fwiw, I enjoy reading about your trades. I do find some of them quite baffling, but that makes it more interesting, because I'm hearing from someone who sees the market quite differently to myself. There's no need to feel a fool; it's not like people here are such good traders that you look stupid next to them. Lol. Not at all. Can I ask you a serious question, is the way you're handling this trade part of what you'd planned for it, or are you introducing coping tactics as the market moves (or did you plan to do this)?
Even a jumping pussyCAT needs some time to relax. Things have been very hot, lately and an idiot like me needs a little downmove, com' on CAT. What I learned so far: Better spend your time with a Cat who has two legs.
A stronger dollar will really hurt CAT's earnings. Look for CAT to miss if a stronger dollar persist.
No one gets them all right, and no one shorts high tick very often. You certainly haven't made a fool of yourself. Personally, I enjoy your analyses and I always make a practice of pulling up the charts and looking at your picks.