I've got the post-Obama blues

[bjcmga]

So, my first post....

I've got a bunch of Aug10 Debit Spreads - Bull calls obviously :>(

Most turned from a few dollars in the black (about 20% of profit target) in to the red (about 30% towards max loss). My game plan would usually have me out at a 20% loss, however these were unusual times. It was an accross the board drop precipitated by, I assume, the new rules on placed on financial institutions.

I'm thinking of riding it for another week before considering an adjustment - most likely a roll out to the next month.

Thoughts?

 

[Petsamo]

Stay long.

It is expected that we will reach new 52 week highs by mid-August, then we hit a bear market.

 

[Carl K]

Quote from bjcmga:

My game plan would usually have me out at a 20% loss, . . .
It was an accross the board drop precipitated by . . . .
I'm thinking of riding it for another week before considering an adjustment . . . .

Thoughts?

You have done well by starting with a plan,
and being hedged (limiting your risk).
Next, follow your plan.
Include, "What if" (adjustments) in your plan.
Rule, don't change your plan mid stream. (self discipline)

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