Thursday, July 29, 2010

07/29 Daily Summary

I had a smile on my face as we were trading around 1950 and bellow Today, for that entire move my position had lost absolutely nothing since Yesterday, so being proactive in rolling those puts out was a great way to handle the current environment. Now I’ll give a bit more thinking on my game plan as to what should be the next adjustment steps and if I should further condorize it Tomorrow. Bottom line, I’m being conservative, but then again, this trade has seen the bottom, now we’re surfacing :)


PBER57 said...

Good job. Trying to read the tea leaves everything is still bullish but I look for a shift by the end of next week. This week will be wild.

We are getting into overbought territory. I tweeted them. Watching for rollover now and I will start selling Call spreads on top. The big question is will we stay in a trading range in August?

Have been reading alot on MACD for longer term momentum interpretation. Your right, dont want to stay in the jungle too long!

Gustavo's Trades said...

Yeah, I think the sooner you get out of the water, the better off you are. These days we can have wild moves both directions, sometimes in the same day..