Friday, March 09, 2007

Friday Morning Update

CAL, cal, Cal, Cal, Cal....

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Shorted CAL @37.91, covered @38.11
(I would like to say that CAL stole my money the first time I tried to short it, but that's not what the Highly Effective Trader would say now, would he ??)
Shorted CAL @37.89, still holding.
chart to follow shortly.

UPDATE (1130a PST):
If at first you don't succeed, try, try again.

I was scalping ICE and SU with breakeven success until my alert on CAL went off. When the trade is executed according to plan, then you don't need to go and force any trades, or keep looking for more trades.
I feel a gap down coming on Monday morning, so I'm tempted to hold this short over the weekend. I've got about 90 minutes more to decide......

UPDATE (1215p PST):
Exited all of my CAL @37.65. I still think the markets will gap down come Monday morning, but I'm not willing to risk my hard earned profits just to see if I'm right.

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