Let's Take a Test Drive by Pay$ense

Since I posted opening this position. . .I will post the closing. Stock went ITM,so <i>almost</i> all expected profit has already been achieved.

<b>Monday, December 15, 2008</b>
10:25 am EST

<b>Bought (4) EXM Dec 5 (EKNLA) call option contracts at $2.35 (ask).

Sold 400 shares of EXM (Excel Maritime Carriers, Ltd.) at $7.30 (bid).</b>

p$
 
This thing is ALL over the place!

It hasn't <i>really</i> made a higher high with the larger trend. . .but has made <b><i>three</i></b> of these with the trend within the trend.

I closed (1) with the 871.5 STOP at market. That left me w/ one. . .that got STOPPED.

Ended up w/ $75 loss,when I had at least a $300 gain.

r/r was there though if it had met target (~$2,250) with (3) contracts?!?

:D

It still may reverse and breakdown. . .we shall see.

Upon visual analysis, my instinct says this thing will roll over, but I won't sell a contract SHORT until it further confirms.
 
The BD (breakdown) level was 874 - so we are still below it. Seems the bounce was between the level I got into around 870 and 864.25 that it bounced strongly off of.

Entered STO 2ES with 1.25 STOP.
 
Filled @ 867.75

FYI: another contributing factor is probably that the NQ already hit and went through it's UT (ultimate target) - perhaps causing a strong bounce.

Let's hope for easy sailing from here!

It hasn't yet, but I am seeing in advance a <i>quick</i> 5 point drop. We shall see.

:cool:
 
You must log in or register to reply here.
Back
Top