Not Satisfied

It is not easy being a Bear. I have learned that it is not an overly profitable point of view. It's just the way I am wired. I have learned that to survive, bullish trades have to be placed, sometimes lots of them. Like I said in my First entry, it is all about account balance.



RATE is not cooperating and I am not satisfied, but it is still obeying the descending trend line. My Favorite Bear, Tim Knight always says " let your stops do the work " so that is what we are doing here. A tight stop would be at 36.29, a loss stop could go slightly above 36.80. I am giving it just a little wiggle room outside of the trend line but not enough to incur a large loss. I use ThinkorSwim which has more features than one can possible use. They have a "trades twice" rule that I use most of the time. The stock MUST have two trades at that price or higher before the stop is triggered. This will prevent your stop from being triggered on a typo and ensures that you are not being whipsawed out on one trade.

Well there are lots of things on the radar, but PSA is setting up. The current support level is acting very strong but be prepared for a break, like tomorrow. The June 90's might offer the ability to double your money and have a tight bid/ask.

I had mentioned that we were do for a down day and the PUTs I bought were quickly doing there job. By days end I had sold them and replaced them with calls which did even better today. I put in an order to sell those and pick up some PUTs on IWM and now I have both. I guess I am ready for what ever tomorrow brings.