Friday, April 11, 2008

who's da man

as you may know i had a bunch of large put positions, about 80% of my net worth tied up and that's always a recipe for potential disaster. although believe me, i believed in my position very strongly. yes, screw sentence construction. and so last night i couldn't sleep. i kept reading the news...i set my alarm for 8:30am and i woke up by myself at 8am...that's how nervous i was. but, then i saw the numbers from General Electric (GE) and it was like sunshine. GE sucked big time (big surprise there NOT)'s the 7th largest loan originator in the US people !!!
the sentiment report at 10am sucked even worse. market opened down big time, i sold my NUE puts too soon, but i felt i did good by IBM and RS. ofcourse, the market tanked big time later in the day, but hey what's our motto "don't be greedy" !!! let me explain, part of being a good trader, is not only knowing when to buy but also having sell levels. there is always coulda, woulda, shoulda, but my target for IBM was 117 and i sold there. that it went down later does not matter, it can just as easy go up. i held from yesterday, i took the risk, the sell levels were met. LIQUID !!!
who's ur daddy ? what, what :)