Monday, November 12, 2007
Screwed...
EMC is just tanking without pause. So, I ended up taking a 25% hit on my options play and sold out. Thank goodness it was on paper, but next time... Also, I'll be buying more tomorrow AM as my $19 target was hit and I'll complete my second 1/2 position.
This is going to be a true test of my abilities as the markets just look like crap. My portfolio has big winners and losers on a daily basis and I think managers are chasing returns. If I pick the wrong stock (ehhem EMC) then I'll be toast, if I pick a winner than I'll be gravy.
FTI sent off an alert at the market open (tanked along with oil). The play was 42.50 Apr08 calls for $16.70 with an alert stock price of $57. Stock continued to decline in the AM and is below $55 as I type. Paper trade here. Next level of support looks to be $55 otherwise it may see $50. Ouch.
For now,
Masterjaz out
This is going to be a true test of my abilities as the markets just look like crap. My portfolio has big winners and losers on a daily basis and I think managers are chasing returns. If I pick the wrong stock (ehhem EMC) then I'll be toast, if I pick a winner than I'll be gravy.
FTI sent off an alert at the market open (tanked along with oil). The play was 42.50 Apr08 calls for $16.70 with an alert stock price of $57. Stock continued to decline in the AM and is below $55 as I type. Paper trade here. Next level of support looks to be $55 otherwise it may see $50. Ouch.
For now,
Masterjaz out
# posted by Masterjaz Out @ 1:42 PM 
