Well I sold my QQQQ and bought some QQQQ puts today:
20 x 17-JUL-09 QQQQ 37 strike PUT, stop when QQQQ >= 37 (Paper Money Account)
1 x 17-JUL-09 QQQQ 31 strike PUT, no stop -risk entire option (Real Money)
This is based on my theory that after a good quarter, the market will drop down again in early July. In my paper money account, which is well capitalized, I bought at the money puts. In my real money account, I bought the highest strike that I could afford ;) Needless to say, we'll see if this hunch pans out. Yes I still need to review my trades, however, I've been so fearful of the market lately, it is good to get back into the market. We shall see.
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2 comments:
I love to buy QQQQ puts. That is most of my trading of late. Drop over to my blog and if you like add me to your blog list. I will put your link up on my site.
Jay
http://pinoytrader.blogspot.com/
Hi Pinoy Trader!
I think we may have met or chatted on Wallstreak perhaps (http://www.wallstreak.com)? Good to hear from you and I am adding your blog. Great blog by the way. I also signed up for momostocktrader@yahoo.com so I could be a follower/friend on your blog also. Good to hear from you and let's keep in touch. BTW I sold some of those QQQQ puts way to early, need to update my post with the results.
Momo Stock Trader
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