If you follow my blog you may have noticed that I haven’t been posting the last couple of days. That is because I have not been feeling that well. I think I am on the verg of getting the flew. You know where your kind of achy and just feel miserable with a slight cough.
Even though am kind of sick, I’ve still be trading. What I thought was one of my best trades turned out to be one of my worst. I own 4 call options on LVS and sold them after 3 days of huge gains. As you might know I was way early. After I sold this thing continued to rip another 10-15%. I had intentions to buy it lower again, but it doesn’t look like that is going to happen. If I get back in it would probably be higher.
I also sold all but 1 call option on Citigroup(C). I totally messed up this trade by not taking profits. I was up $535 or so after I brought a total of 14 calls when the stock was trading about $4 or so. I sold all but 1 at a lost of $30. I seriously violated rule #1, which is never let a profit turn into a lost. No of course, Citigroup will trade back up over $5 someday, but I guess it will do it without me. I wanted to hold on, but could take the pain. I hope that trade makes a difference in my future trading. Take profits.
So to sum it up. I did take profits on LVS way to soon. I didn’t take profits on C until it was way to late. Maybe one day I will get it just right.
