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update: In order to take advantage of the hig intraday volatility I also try to sell some options, strike 70. My ask are @2.40, 2.50. If hit, I try to get in @ the bid for a lower price within the day. Almost a 2 bagger in the 70s series.

Please explain, inandlong.

Look to an imminent announcement from the likes of Volvo CAT etc.. I wouldn't short CAT until after any such announcement... But then again you have considered all this, haven't you? LOL ps I have found the one perfect contraian indicator: Heilbronner. [/B] Are you with me...

update: covered puts, strike 65@ 0.50 and 0.55, remains a loss of 0.325 puts, strike 70 are @2.05, a plus of 0.675, so far. Option positions as well as stock position in the green so far.

p.s. you aren't really saying that averaging a loser is something that you do often... ???! very seldom, indeed.

Hi ice, without the gap I would even add on. As I don't like gaps I avoid to do so. I will post the exits.

Cat falling like a stone. Cat down 3,25% and my stock position is in the plus!!! Option, strike 70 is up for 54% for today. But still, timing was not that good. Had lots of pain with that trade, almost a nightmare.

Legg Mason just came out with a downgrade. Do you know what it means when bank says: Hold???? Do you know what they have been doing before making it public?? Do you believe in chinese walls and honest bankers?

update: stock short position almost in the green. options, strike 70: in the green options, strike 65, so far in the red zone, but overall option positions in cat in the green so far. Overall portfolio: all time high!!!!

......lack of discipline... you are right. I lack discipline. I tried very hard in the futures some years ago. Always cut my losses very quick. In the end I had very high transaction costs, lots of slippage and almost no performance. Overall I was emotional very depressed. Stops tend to be...

...lack of discipline in not exiting but rather averaging a loser by adding on... a violation of a cardinal rule to many veterans... Dear ice, I see your point. I started this posting, so I will give all the updates on this trade. This is how I do it. Have been trading for more than ten...

Update: I double my stock short position @73.02.

Update: Trade done, sold@3.86. Only a small gain of about 3% on the position. Still think Sunw has potential till $4.20-4.50. Liquidated because I will concentrate more money with another trade.

...I use tight stops, so that when I know that when I am wrong I get out early... stops tend to be filled. IMHO tight stops are BS, although everybody is suggesting to do so. By using tight stops IMHO you will bleed to death, but yes, slowly.

Even a jumping pussyCAT needs some time to relax. Things have been very hot, lately and an idiot like me needs a little downmove, com' on CAT. What I learned so far: Better spend your time with a Cat who has two legs. :p

Update: Added more puts today, strike 70, $1.25. So far I'm in the red and it seems that I made a fool out of myself by posting my trades. But I really don't care.

added more puts today. This time strike 70, maturity sept., average price $1.50. I start feeling the pain, my entries have obviously been too early.

Added more puts today. Twice as much as last time. Average price: $0.65

update: Added to my position some nice puts on CAT: Sep., strike 65, average price: $1.05.

Regarding Affx, covering with the exact price was given in the post. There was a small loss on the stock short postion, but after covering I was selling Affx Puts and had profits on these positions. Think I'm tired of justifying posts.