Another note to self,
Friday the VIX.X dropped out of it's uptrend from early april with a drop thru 26. And you still bought puts. For shame for shame. ASK is now 2 1/2 on IBMSB and you paid 3 1/2. This kind of trading is unacceptable, you must be disciplined. spankie, spankie-Ouch!
You can rationalize all you want, "It's a freebie, completely paid for with profits (now dwindling) from IBMRB" blah blah blah.
Fact is you screwed up. Dumb to open this trade late Friday.
Oh well, at least you didn't go whole hog on this. Give it a few days, average down. No, but tempting. Open a long to offset it. No. Go for a ride and live in denial. Maybe. Eat. Definitely. But it definitely seems that the old "one day early curse" has smacked you again. So hold, and give it a few.
Amgn, still a mystery. But I haven't thought about it since saturday.
I wonder if the sentiment polls were correct. Further rally in the broader market seems unlikely, but as I type I'm busy trying to fit my size 11's into my mouth. Fact is you can jigger ema's, chart patterns, trendlines, etc... to fit almost any viewpoint, mine just happens to be that a correction to the 50ema on a weekly SPX chart is necessary for me to feel good about investing heavily on the long side. Currently about 1213, extrapolated out 3-4 weeks might put it about 1228-1230.
This line has been the correction line since the march/april 96 correction.
Oh well, toodles.
D |
