Thursday, June 5, 2008

markt bounced

when I was in Aachen, the center of the city, like most of the European cities, was a big church and the market was just next to it.

the market was called markt.

both SPY and DIA had an harami and the they bounced today. finally I closed my SPY long put I bought on the Fed day as a hedge, lost 2/3 of its value. so much for skillful option trades, I shorted a 139 put, closed that, net long for a few days then shorted a 140 put, closed it. it was just a big wash. I guess I am not much of a thinker, I much prefer directional trades.

so what happened?? I don't know, but when the market bounced up, enter more longs.
clf, unp, bni, mmr, gmxr, rjf, dltr and safm.

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