Wednesday, January 10, 2007

Wednesday Morning Update

I see stuff going up, but overall markets are down

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HANS, AAPL, SPWR, FMCN, are all up. Man, if I didn't take a peek at the Q's or SPY, I wouldn't have known that the overall market is down.
I didn't post any blurb on my trading results yesterday because I traded so little that there wasn't much worth talking about !
Hopefully today there's more tradeable "action" in the markets. We'll see.
I got out of my RIMM puts on that stupid gap up, we'll see if that gap gets filled or not... Or alternatively, a lower high would be nice....

UPDATE: I just watched ICE move up from 129 to 130.5, and I couldn't pull the trigger. Bleccchhh.... I guess I'll just watch it some more.... Maybe it can dip back down to 122.5 and give me a real compelling entry that I cannot not act upon, LOL!

I see RIMM now grinding out higher highs and higher lows. That's gotta say something about the health of this market. Markets overbought? Ridiculous. Correction cycle imminent? Try telling that to AAPL, ICE, RIMM, GOOG, BIDU, SPWR, NYX.

UPDATE2: I've said this before, but it's worth mentioning again - individual charts trump the overall market action, so in any kind of a market (bull/bear/choppy/boring), all you need to do is find the right charts to go long

UPDATE3: I put in a limit bid of 8.10 on some ICE Feb130 calls before I left to run some errands. I came back from my errands to find that my bid was not filled - because ICE ran up another 4 stinkin' points !!
Maybe I will drown the pain of missed opportunity in some AAPL Feb100 calls that I bought @3.10 earlier this morning......... LOL !

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