I am kind of disappointed in my trading this week because if you read my older post, I do believe the market is headed higher. For some reason though, I am scared. So this week I have been hedging my positions and cutting myself short, because this market is ripping. I know I should be watching my loses as the gains will take care of itself, but I just cant help it. I probably left 3 to 4 percent on the table this week as I protect my gains from any downside pressure.
Today I brought Textron. I owned this position a few weeks back, but then it ripped 13% in a day and I had to sell. I opened a new position with a Sept/Oct call spread by selling the Sept 21 and buying the Oct 20.
I have been buying LVS on the dips this week and today is paying off. I own 4 Mar 19 calls that I paid $2.65 for and now they are worth $3.35.
My Citigroup options are tanking. I own a total of 13 call options. They are profitable and I do plan on holding them to expiration, but as it goes lower, I must reconsider to sell or buy more. There are so many other stocks that are primed to go higher than waiting on Citi.
I brought to 2 calls of Covance (CVD). I must post a chart on this stock because this stock has plenty of room to run. It’s currenty breaking through resistance at $58.38 and the next resistance level is $80. Be careful on this one because it trades on low volume with average around 680.000.
Be sure to read past post and videos as I have been right on, by calling this market.
