Monday, November 20, 2006

GOOG call option trade

This is a 2d, 15min. chart of Goog, with my Dec06 500 call option trade highlighted:

I followed my plan (wait for a decent setup, keep my losses small) but the trade just didn't work out. I don't think GOOG is ready for 500 yet, maybe next week.
Probably better just to be even more patient and wait for the break above 500, at least that will have some initial follow-on buying if for no other reason than to take out all those buy stops waiting just above 500.

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