Saturday, November 24, 2007

TACTICS

I see the market trending until the fed announcement on Dec 11. I'm 90% cash. GOOG and AAPL are the only positions I'm in. Here are my moves:

Entry @ 630. Stocked rallied up to resistance/support area defined by stalled rally last month at the same spot. Volume is minimal to get to here. I sold 1/2 position towards end of trading day. Bought DEC 640 puts to hedge remaining position. Place a stop @ 640 but will remove it since I bought the puts.

Entry @ 153. Sold all Dec 175 calls today and bought Dec 155 puts at end of trading. Notice how stock behaved last year at this time. It usually doesn't make its big move here. Also, it is at resistance here. It may just be stuck in a consoladation range here.

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