Technical analysis for shorts & longs Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Technical analysis for shorts & longs

SPY 683.03

-0.1%

Dec 9 4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: dppl who wrote ()	2/17/2000 6:20:00 PM
From: j g cordes	of 68842

True confession (or how to keep kicking oneself..) This morning I had long calls on FNM expiring tomorrow. I assumed whatever Greenspan said would be friendly to my position because FNM had based and seemed to be strong going into Humphry Hawkins. FNM gapped up in the morning. Just before he spoke the 55 calls were about 1. At 10:00 I had a good profit in the position and was thinking I should sell, then heard Greenspan begin on a radio in the other room, so I took my cup of coffee and went to listen. A half hour later I returned to the computer and saw I had nothing, zippo... FNM had taken a tumble along with other financials. My problem was in assuming that because the long bond was going in the right direction, my stock would hold or go up. Secondly I forgot the one adage that rings true tonight.. buy the rumor, sell the fact In this case it was buy the Fed anticipation, sell before anyone knew exactly what he was going to say Hope this helps someone... it took three good trades last week to equal this one half hour loss.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next