It is Friday.  The end of the day and the end of the trading week.   Lots of traders will close out their positions and sell into the close, so that their money is not at risk in the market, over the weekend.  Sometimes this creates a Friday afternoon “sale price” for those of us with a longer time horizon.  Doesn’t always happen but when it does you can sometimes get a better entry point.  Watching for that today.  Doesn’t look like it will happen today.  So we watch and learn.

Still holding all previously mentioned positions.   The F Calls in Sep and Dec are down big but this week if I had bought at the low when I was looking at buying more, I could have doubled my money off the low.  I didn’t do that because I didn’t want to “double down” into a losing position.  I have done it before but with options, they eventually expire worthless.  So if you are not “right” and “right at the right time”, then you lose it all…  So I will be happy if  my current losing positions come back to profitability.  They are pretty volatile and there is plenty of time for them to come back…  Speaking of time, wish I had more but I have to get back to work, my day job.  More moonlighting with you later…

Originally Posted on April 27, 2012   (Before System Upgrade)