2/10 Day/swingtrades

I came into the day expecting "sell the news" but I didn't think we'd go that far down. There was basically too much anticipation for Geitner's plan. The only thing I got out of his speech was that he needs practice using teleprompters and not making it so obvious. How about that follow-up interview, why can't he look the interviewer straight in the eyes instead of tilting his head and eye-balling him? If he is going to play a big role in the new administration's economic recovery plan, he better step up his game a few notches.

As for the markets, I actually think it was more of a trader's sell-off. Basically, we've moved quite a bit since last week so there really wasn't too much of a base to hold onto. At least that's my thinking since I'm left holding the bag on those UYG calls. I'm going to stay nimble the next few days and go back to daytrading mode...long or short, wherever the markets take me.

USO - This is still trading pretty sloppily. I moved my stop up on that gap open and it triggered a bit later for $0.20 slippage on the calls.

OIH - I got stopped out of this one as well for $0.30 on the puts. Looks like yesterday's double-top was definitely the time to sell.