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Strategies & Market Trends : Just Like Starting Over
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To: ayahuasca who started this subject3/19/2002 3:20:31 PM
From: ayahuasca   of 23
 
well, I'm stuck. There seems to be a tremendous negative slant to Nas at this point. Perhaps not the index so much as the individual stocks themselves. GNSS and CHKP for example struggle like hell to stay positive as the Nas is positive (though barely so), but as soon as the Nas dips into the red these stocks crumble...fast. AETH has been a disaster since my entry and I am now left hoping that that there is some kind of capitulative bottom here. There aint enough volume to support that hope though.
So as of right now, the option experiment is fairing very poorly. If I had maintained my basic game plan to sell when I hit certain profit goals (for example selling the GNSS calls at $5 when I considered doing so, would have locked in a very nice 45% gain, but now they are trading at just over $2 and I am holding the bag). CHKP was just a bad entry from the get go, and I exacerbated that mistake by not cutting my losses when the stock broke through it's 50-day MA at $35. AETH just fooled me. There has been a big seller there the last week, taking the stock from $5.50 to $4.50.
So, the lesson to be learned so far in this experiment is that in the options world, there is absolutely no room for error. Always enter with a specific game plan and FOLLOW that plan. If holding options at a gain and I begin to question the direction, sell first and think more about it later. Much better to leave profits on the table than to lose not only your profit but your whole investment...and that's what happens in options land.
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