So close. The SGWGIs hit a low of 2.40 this morning
That's one of the problems with doing this from a distance. I've got to guess at what I think a particular position will do during the day. On the other hand, on days I have been home watching the screen, I find myself too easily swayed by very short moves and don't have the info or experience to make good judgements. I would love to take T. Lo's class and learn something about TA (from the one person I've found who seems to have a good feel for this-and yes there are probably others, but I am not one of them).
The other disadvantage to sitting home and watching the market is that after a few days of it I begin to feel like some mole creature living in a cave.
Happily, whether I buy it back, it expires worthless, or the stock gets called I win. The only down side is if it goes to 20 and I end up slowly accumulating stock in companies that I don't want to own, and I don't have enough SEBL yet for that to concern me. I really was trying to be slick and trade this option 3 times in a month, in that I think the market will be higher next week.
Anyone interested in giving me a "common sense" explanation?*
I don't know if it's common sense or not, but all the math aside, someone (or maybe many someones) thinks the stock will be higher before expiration. Given that a lot of people are not trading the market this week (low volume),it is possible that when they come back next week the market will firm. And yes, I know the news has been terrible, although 4.5% unemployment is still historically a very good number.
Anecdotally, I spent the Fouth at a fair with parade and fireworks. There are an awful lot of happy looking people out there with a pile of kids and more on the way. You can call me a wild-eyed optimist, but there are too many signs as I drive to this or that job site that we are not about to fall into a black hole. JMO, and even I don't take my opinion too seriously.
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