SWN & Market fall hard Tuesday. – I was right about resistance but right to stick to my plan and take a loss.
So yes it still kills me that had I waited one more day holding my options I would of made 50% instead of lost it, but I stuck to my plan. SWN did fall below $37 to 36.67. However my sell point for my option only made it to .70 and not .75 so I would of had to been watching the market. The option ended up closing around .49 where I paid for it. So it’s a good thing I just sold. It does drive me nuts that I was correct in my thinking the market was due for a harder sell off but oh well I always have another day to trade my $380. I went to a meetup.com group last night for late night computer hackers. It was pretty cool. I kind of couldn’t focus because there were so many beautiful women. I’ll definitely have to go again. I wouldn’t say I got much done on my projects, but I got a start. SWN has started to regain some today. This Irish bailout is a new one to think about with China’s currency deal. They seem to be the biggest news pieces lately.
November 17, 2010 | Categories: trading stock options | Tags: being right about my instincts, big news, china currency, irish bailout, markets down 2% on tuesday, meetup.com late groups, november 2010, Southwestern Energy Company, SWN falling below $37 | Leave a comment