OJ-- When things go good and you pick a top trade it down to bottom and nail the bottom against conventional wisdom at 550 on DOT, I feel like going out. Right now I am in middle of a trekking journey in wilderenss, that will conclude in 5 days today is the fourth, North of Pakistan hosts few of the highest peaks and just 5 or 6 hours drive from my home is Hindukush range the Karakorram's and the Himalaya's, we are taking a journey that takes us from Saidu Shariff in Swat to Kalam, this is a valley that is in beauty no less than Swiss, rather I prefer here more Mount Blanc the highest peak in Alps is 4500 m here every otehr peak is 2500, like the base station of some of these peaks are at 4500 m, nay way treeking along mountains where the tops are all white and rivers are like river wild, white water rafting is a common game alongwith recently inagurated skiing at Malam Jaba, from Jan to March we have 10 foot of snow, one can also trek to Chitral in 10 nights and 10 days all on back pack I wanted to take the shorter route, once I am done with I will be back on my trading from Wednesday, right now until last night my strategy was to blow out my positions May's on all the stocks if I see a BREAK to 675, we never saw that I am increasing my trailing stop profit to higher levels today I will be out of all May's if 688 is taken out, otherwise I let them run, the premiums are too heavy and time is short, I think this has been one of the most rewarding trade of my career at 550, Ray was telling me that to recoup some of my premiums on the table so as to hedge I can afford to sell --- calls on DOT 820 last night just thepremiums for May selling outside them moneys would give me ---,--- $ plus in addition to the move from 550 to 820 if it ever moves their, however I would rather exit and maintain my trailing stop profit strategy as market moves higher I keep moving the stop higher. If it hits my level I get out, saying buy to the party I am done with but so far things look good but tonight I have some plans to take some thing off the table like EGRP I have 90's long 110's 120's long and 150's long, now may be I would like to take out heavily in the money's and let the 150's the dogs run..
I betted huge and I think it has done well so far, BKX weakness in context of internets strength just tell me that money moving out of internets is now finding its route back,so BKX if it holds 902 will only signal thatm oney is flowing in.
However, I am not going to give this thing up I will keep a very tight stop profit and will like to move out my strikes, right now I am enjoying the wilderness and the internets both are 'wild', for me I go back and look at that 550 bounce and look at my picks I can just say that this is a market where if you miss a bottom you would be really mad with yourself, I am happy that we did not do that, we did not join the chorus of short our strategy never changed and we stayed course, that is the bottom line...
Love and regards to every one somewhere near Bahrain in Swat Pakistan.. |
