We are going to have indian food for lunch and I looked at the chart for JPM, it is actually a bull flag. I don't fight the tide and I don't go against the trend, now the short term trend is UP. The increased in implied volatility due to tomorrow's Fed Announcement certainly helped on my exit, I only lost $0.90 on this trade.
So I closed my put on JPM and have a good lunch. Nothing more to worry about for tomorrow's Fed announcement.
There is no analysis in my part, I follow the clinche' trade what YOU see. Technically analysis is a completely subjective art/science.
Anyway, my gold are still holding up pretty well, but I longed SKF and SDS Monday, SKF already stopped out and SDS is getting there pretty soon.
Position size, position size.
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