Monday, October 20, 2008

10/20 Day/swingtrades

Energy/commodities were all the rage today. I jumped the gun in the AM and took $1.00 losses on ANR and APA. However, as the day progressed, I entered a few low-risk setups for swings.

OIH - I entered Oct 50 Calls as the volume started picking up midday.

NOV - "The Fly" has been all over this one the past few weeks so I kept it on the radar. I picked up shares as the premium on the calls were a bit too high.

BUCY - This didn't participate in today's movement but earnings are in a few days and I'm looking for a pre-earnings run-up along with any strength in the energy sector. I went with Nov 30 Calls since the stock is trading pretty far off from the daily moving averages and mid-30's is possible.

I'm out-of-town the rest of the week for work so trading/posting may be limited.

2 comments:

Stewie said...

hi OE. its been a while i haven't dropped by to say HI. how has been this market been to you? hopefully profitable. gotta be like clint eastwood and pull that damn trigger on profits very quickly.

OE Trader said...

Hey Stewie, thanks for stopping by. I have not traded since Tuesday morning due to client meetings. Looking at the charts each night, I wish I just called in sick!!! :) Good to see you are still raking in the profits!