After taking losses on NVDA Long and KMX Short positions. Although KMX maybe still a valid short. I also did a Day trade on MTG (did not post that trade) Bought Nov 17.5 PUTS at 1.50 sold the next day for 2.20 (of course after I sold it went up to 2.80). I also bought PMI Nov 17.5 PUTS on 10-26-07 at 1.35, PMI went up more than 3 dollars today some optimism after CFC earning announcement (CFC claimed that they see a turn around), Well after all these loses, I am not going to trust their judgment and still think, we will have more bad news. So I use the rallies as selling opportunities. I bough PMI puts toward the close of the market so I did not pay much for the puts , but I should have waited at least a day or two and let the short rally go on, so I could buy more puts at a cheaper price.!
No comments:
Post a Comment