C - this set up a nice narrow range as the market consolidated the opening gap. I liken this to doubling down on blackjack. The narrow range allows me to increase the position size while maintaining the same risk. I sold half as the market began to stall out and carried the other half overnight.
PCX - Coal stocks performed very well today so I picked up some Dec 7.5 Calls as it appears PCX may be coming off a double-bottom.
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2 comments:
yo-
still would keep an eye on those coal stocks.. ANR ACI JRCC, also BUCY...
Thought todays (12/9) action has put a wrinkle in many setups, we need this pullback to test recent moves IMO.. daily charts of strong stocks are a bit over bought still.
You should talk with Billy Mays and consider a consolidated effort for one blog if you guys can deal with sharing :)
Might become a strong force :D
later!
-sloth
S, thanks for stopping by! I like those coal stocks. Still have my PCX, but should have sold above 9 today.
It would be tough consolidating blogs. I use mine for record-keeping and as a one-stop-shop for all my blog links.
Good trading!
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