The Super Terrific Happy Hour

[Chuck Krug]

Max> Quick question: I sometimes have issues taking long trades (Probably because I have seen stuff tank much faster than go up) Any tips how I could work on this?

PS: Your last remark didn't come through.

 

[Max E.]

Hey guys sorry my house was being painted so i went to the lake for a couple days to escape the fumes.

Ill get to the questions in a bit but for now im long some CIEN from 26, hoping for a break of 27 to sell, stop below 25.50

 

[Max E.]

long small BBY at 59.44

 

[Max E.]

out half of CIEN at .71 holding the rest

 

[Max E.]

out the rest CIEN at 27

 

[Max E.]

out BBY 20 tick loss, was hoping for a big push through the .50's lol blew it on CIEN instantly up another buck

 

[Max E.]

long CIEN again 26.83, just small this time not somethin i feel like fighting

 

[Max E.]

out half 27.09 free rolloon the rest either goes or stopout at breakeven.

 

[Max E.]

stuffed at 27.20, out the rest

 

[Max E.]

Up about 550 on the morning probably not going to be a heck of alot the rest of the day, thought process on CIEN this morning was gap up on earnings i was pretty sure there was going to be some sort of a push out of the gates and it was going to attempt to break that 27 area it was gapping in too, on thee daily.

Reason i flaked out and sold so early at 27 bucks this morning was because it was getting pumped by Cramer right off the bat on CNBC, so i didnt know if the move was legit, then right after i sold it ripped another buck, should have waited for the stops on the other side of 27 I guess, I thought there would be a fight at 27, and id get a chance to rebuy 26.50, but it was still a good trade.

Then after that the second long i was just buying support at that point hoping it would make a push through 27.20, once it rejected that level, i got out, might rebuy if the lows hold again.

Here are my charts and how i had them marked up.