Ouch part 1

This morning started out as I thought it would, punishing me for having puts and not calls.  RIMM opened up way higher than I would like, even for just selling for a loss.  So the idea is to watch as we might have had a top for the day and hopefully the reality will set in and the market will head lower.

Resistance for the Russell 2000 (IWM) is a little below $76 so unless that resistance is hit, I’ll be holding my puts for a couple days minimum or until a profit is made.

The market hasn’t been positive for two consecutive days for a couple weeks now, so this is a little different.  I mean, I was watching the fairly often daily new highs for a while, but a almost-daytrader gets use to only recent history and not as much focused on the long term history (well, maybe a little more than I’m leading on about, but you know what I mean).

So do I take the loss and live to battle another day or do I just ride it out?  That’s going to be the question… the DJI is pushing on the +200 point door right now and I will admit that I’m pretty uncomfortable about my positions right now.

Sigh.