re: " the back seems to be broken now."
During the amat rally at last earnings report, I thought they had peaked at 32, shorted there, watched (with that sinking nauseated feeling) as the stock went to 37, took a couple of deep breaths, bought puts at the top, and exhaled as the stock went to 26, where I cleared my position.
Obviously, I made the same mistake this time, buying way too soon in the rally. But, I suppose now we're closer to the top at 41 than 29, :)
I think the take-home lesson for me, is to wait a bit when I think we're at the top, and buy in increments, because my ability to pick the tops of the false rallies is less-than-perfect, by a lot more than 2 standard deviations. |
