11/8 - 11/18 Day/swingtrades

I've had a very hard time trading part-time last week and this week. It was pretty much impossible to trade on any time frame other than 1 and 5-min charts. I did catch a little bit of the bounce on Thursday afternoon and went back to cash on Friday morning. The only set-up that works for my current schedule is catching the lows/highs of a channel. I need to be in a position to let a daytrade turn to a swingtrade if I have to leave the monitor. The only position I'm currently carrying is RIMM. It showed a lot of strength during yesterday's weakness. There was support at 40 which was the previous low on the daily on 10/26. I picked up Nov 45 Calls with the stock @ 42.00. I sold half today @ 45.20 and will probably get stopped out of the other half given these 1-day trends lately.

BTW, just a follow-up on my views of the auto industry, here's a pretty good article by Professor David Yermack that came out on WJS this weekend.

http://online.wsj.com/article/SB122669746125629365.html