Today I did something unusual, instead of just buying the options (calls/puts) I bought 120 shares of BIDU.
Today was a big 'BAIL OUT' day and I was expecting the mkt to really go higher, since, the problem of 'Credit Crises' will be solved with this bail out...
So to act on my thinking I sold the GOOG put I was holding, early in the morning, thinking the mkt is going up a 1000 points...
Soon after I bought 60 shares of BIDU (having a good feeling) @ $240, soon the seeing the stock going down I added another 60 @ $234 ... as the stock keep moving down ... scared!... I bought 3 put contracts... just to save myself from further loss in the stock...
It was all built in my concious that the mkt is moving much higher today... and I need to jump in!
but the mkt after moving a little higher started moving lower... and ended much lower for the day... the news of the bailout succeeding was already built-into the price..
"Did anyone really think the market would sustain today's rally after the bailout vote was taken?? Ummm, wasn't the expectation of passage already built into the morning climb?? Ya think?? And didn't Monday's no-vote meltdown occur after the market was already down on the day (i.e. wasn't the initial cause of the drop)??"
