Wednesday, May 7, 2008

still hanging on to my loss

i am still hanging on to my 50 Nue puts, but i feel sad every time i look at them. patience Sunny. my theory about the rise being tied to Oil was dashed as Stld and RS, fellow companies are not tearing upwards. this could be a straight break out for the 80 level by Nucor. the company is still terrific, although steel is trading at record prices. who knows ? i'm going to hold through this week. man, the market goes down but this puppy is just not budging.

other than that, i just tore up the market today. sold my Stld and RS from yesterday. shorted IBM and took a nap. reshorted RS and almost shorted Nue, but i am scared of Nue at this point. it took a while for ibm to roll, but i got out of it at the perfect point. the RS paid off nicely too. i was a champione.

i like my new regime of wake up for the morning trades, then nap some more, run errands and then catch the last 2 hours of the market.
i already had Pho. perfect hangover food.

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