I’m running out of money in my account. I still have some value to the positions I’m holding, but after buying 5 puts in IWM I only have $35 in cash left in my account. Maybe less. But am I smart enough to be scared? HA HA HA… come on now, if you really think that I’m that smart you wouldn’t be here reading still.
Light trading day in volume. Easy manipulation day for those with the money, easier than other days. Watching some big moves that would never be allowed if all participants were playing.
Exited the IWM on some sad volume but nice direction, well, for what it was. Considering the market probably traded about 25% of the regular volume, the IWM was up enough for me to make a profit.
Little chance of trading for me today. I’m watching the market. Things are slow. Amazingly slow. The only thing I like less than the slowness of the market is AAPL going up nearly 2%.
My loss was totally self inflicted. I had a winner on it for a day, if that long, than rode the loss to more and more of a beating. I’m not sure what I was expecting, probably some sort of Russell breakdown. It didn’t happen, I paid for it.
The Russell 2000 is not going down. No matter how much I wish it. IWM is costing me money on the puts side, so I’m changing my direction. Out with the bad, in with the good.
I figured that before quadruple witching expiration day, the logical likely number would be triple pre-witching expiration day, making this Thursday, Thursday, Thursday. That actually makes today, one of only four semi-unique Thursday’s in the year.
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.
This morning the market started in the positive territory area, but the drop into the red was unavoidable. As I watched the AAPL puts go into my target area of over $2.00 per put, I contemplated selling. Is there more room to drop though?
