More stupidity delivered fresh, daily

First let me say that watching the market head to the negative so well today would mean more to me if BIDU or JCP came out with deadly news. Instead it’s about CPI and some other tri-graph. There’s a little bad news for me, I bought more puts in JCP.

Yesterday morning I bought some more puts in JCP, and tried to buy more after that but wound up selling a couple by mistake (damn work always interfering with trading). So here’s a quick recap of my yesterday action for trading.

Sold:
JCP Mar08 $50 puts (JCPOJ), 2 @ $4.80
Entered 2/7 @ $4.90, exited 2/19 @ $4.80
2% loss, -$24
stock price when entered $48.10
stock price when exited $46.80

I was attempting to add 2 contracts to my position, but somehow the sell came up instead of buy. So I figured something was telling me to buy different puts, so I did.

Buy:
JCP Mar08 $45 puts (JCPOI), 4 @ $2.40
stock price entered $46.01

I learned like some of you did last night that Citigroup “reiterated Buy on (JCP), target $53″. Yes, that does suck. But maybe the market will take this stock down today anyway.. you know, because I have a couple thousand dollars at stake.