Sunday, November 11, 2007

IN PLAY

GRMN - Bullish since 11/8 @ $84. Stop @ 82.50 (just over the 200ma)
Target: 50ma around $101.50
Add to position @ 92.50

AAPL - Bullish since 11/8 @ 175. Did not have a stop. A bag holder for now. I'm setting a bullish trigger @ 162. It looks like it is seeking the 50ma @ $161.40. If in, stop will be @ 160.40. Target: 175 the gap at 10/22.

BIDU - Bullish since 11/8 @ 365. Did not have a stop. A bag holder again. Setting a bullish trigger @ 307.50. It seems to be seeking the 50ma @ 306.82. If in, place stop @ 304.50. Target= 355...20ma
----------------------------------
I did not expect the huge downside move on 11/8. Instead of setting bullish traps, bearish traps were indicated. Another mistake, was not setting stops for all three. I'm holding the bag on two of the three positions. Luckily, they are Dec calls.

Problems:
**bad entry points
**buy puts instead of calls
**no stops

Solutions:
* entries will be off 50ma or 200ma (my usual bread and butter)
* set stops just over the 50/200 ma

Will concentrate on making the right moves. If the right moves are made, success will always follow.

I'm now armed and ready to trade. Happy Veterans Day. :-)

No comments: