Monday, February 9, 2009

2/9 Day/swingtrades

POT - Another strong move at the open. POT started weakening midday so I unloaded the remaining Feb 95 Calls around $94.15 as the RSI/MACD were declining and the second attempt at $95 failed. Too bad I did not flip to puts at the same time...that would have been a great follow-up trade. POT has made a monster move the past week and was definitely due for a breather.


OIH - This was also looking pretty good this morning. Unfortunately, I forgot to pull up the daily and check for potential resistance levels.


I ended up exiting the calls after giving up about $3.50 on the stock and re-entering later in the day. We'll see tomorrow morning if that was a wise decision.


BAC - B of A showed some nice strength at the open. However, it was sitting right at the 20-SMA which acted as resistance for most of the day.

I tried pyramiding @ $6.91 as the moving averages inched up but was later stopped out of Friday's and today's position @ 6.84. This one probably needs a breather.


USO - The action on this is boring but better than losing money. I'm still holding.

UYG - Still holding. I'll either unload or add more pending tomorrow's reaction to Geitner's plan.

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