This should be good for a quick day trade. I’m only looking to make a couple bucks from this trade, whch I assume will be profitable because of the current direction of the market. Of course, if the market reverses direction, I will be personally responsible for the market upward direction, based on the ONE put that I bought. GS isn’t reporting anything, it’s just a normal trading day. Did I choose poorly?

I wouldn’t know what to do with myself if I let the profits from GS escape me for another week. Last time I could have taken advantage of the sale I didn’t which wound up making me question my trading prediction skills, which should never happen. Ever. So I did what I always do, I sold all the options I had at once.

Yesterday I had unrealized profits and gains that changed my account’s value over 40% to the positive side. That’s pretty massive in a one day move. If I did that with any continuity it would be amazing. Soon, I wouldn’t have to throw a second Bar Mitzvah or disappear for a month (hiding from the mob?), or worse, hide from shame (have you stopped blogging?). Instead, I’m dealing with the today.. and today is painful.

GS had a nice lift yesterday, but I feel that the stock is destined to drop in the short term. After buying puts first thing this morning (when the stock was up over $1) the stock wend down a couple dollars, but I didn’t take advantage of the selling opportunity. I probably should have, as I see now the stock is moving slowly back into the positive. I’m going to hold until tomorrow on this position, unless…

I’m not really expecting anything in the market today, but if I were to make a prediction it would be that the market will start lower and though it might move higher, it will end lower. There could be a lot of manipulation today, as many traders will not have a general sense of where the market will be headed. It should be going lower because nothing has been fixed for the major financial issues, only things have been postponed.

First, a reminder to myself: don’t hold RIMM put through RIMM earnings on Thursday.  OK, now onto the day’s predictions or guesses or incorrect thoughts.