Friday, August 29, 2008

8/29 Day/swingtrades

I had planned a light day on Friday with minimal trading. There were a couple daytrade set-ups that looked pretty good, though:

GS - despite the weak market, GS showed strength all day so I picked up some calls as it traded above 163 on higher volume
Profit - $1.20 on Calls




RIMM - With the tech sector weak following Dell's earnings, RIMM opened up below the 125.00 support level. I waited until it broke the opening range low to pick up puts.
Bought @ 123.76, Sep 145 Puts
Sold 1/2 @ 121.64 & 1/2 @ 120.80
Profit - $2.50 on Puts






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