Tuesday, May 6, 2008

argh, major loss on the way

i overleveraged myself by buying 50 puts on Nue at a bad price. my gut told me to hold till 77, but i bought at 76. it's at 79, right now. there will be a downside, but it probably won't blow below 77. it's gonna be very hard for me to wait and hold and pray for 76. my gut says, if i get 77, sell and take the 5K loss.

bought some Stld and RS puts. more steel you say ? i still strongly think they are at their peaks and will go down. Nue just happens to have greater visibility then these two.

i need beer. i just bought these yesterday and in one day i am ready to cry. that's options, folks.

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