Why Is The Obvious Not So Obvious?

What decision would you now make?

1. Cover for approx 0.25 and take $300 (or little more) profit less comms?

2. Hold on to 10 x $19 short puts for another additional max profit of $250?

What was our outlay - risk - % return?

What will the little wiggly worm do next

http://i42.tinypic.com/7nh4.jpg

 

Will the worm test 24.00

 

ANF

From the mainsteam trader point of view, we have properly retraced to the .618 of the monthly high. 24.17 is the .382 and is a decision point right?

 

I am not enough of a trader to suggest an action regarding your puts. (you can probably tell). My simple mainstream method would have taken a bounce off the .618.

 

fwiw Sir

drop the bullshit and use your brain - please


Now my mind is closed

 

NYSE asks if anyone thinks there is further upside.

I respond that it looks to me like it hit a strong resistance point. But all I have to go on is the mainstream point of view.

Trade what you see. That is all I see.

I post too much. ( I feel the heads nodding...)

I will sleep and let some real work go on here.......


RM

 

If you had the cash to buy the stock I would hold onto the puts. They will more than likely expire worthless, for the buyer that is.

 

Sorry for calling you a teacher, it won't happen again.

I get it that what works for one may not work for the other. I am here to discover the one thing that will help me the most, and that is the 'obvious'.

I am presuming, notice I didn't say ASSuming, that the 'obvious' is a specific action that must be taken by me, the trader, to 'easily' take money from poor schmucks, like me currently. If the 'obvious' is nothing more than 'do what works for you', then I guess I already know the 'obvious'.

This thread has already caused me to analyze my trading and I have made some changes which I think will greatly improve my bottom line.

One thing I am doing now is trading alot smaller size while I am in the process of getting back on track, or maybe not back on track but just getting on the track.

Have a good one.

 

What you say is so true. I think you just stated the 'obvious'.

I'm gonna print this.

 

It is better to teach a man to fish than to give him a fish. He can then eat for his entire life. Is that the point you were trying to get across with the Picaso?
You are teaching us to fish to make us self sufficient.
Picaso had a real interest in painting.