Tuesday, November 11, 2008

As I saw GOOG down -$9 in the morning I immediately sold my calls that I was holding since yesterday. I started to think that GOOG has broken the $310 support level and is heading for a further decline. This being at the back of my mind, I placed an order to buy 3 put contracts which was executed in few minutes. Later when I checked my account, I found to my surprise, that I had somehow bought 6 contracts of the same puts when I meant to buy only 3. I was confused and upset as I did not meant to keep my risk low.

After I bought the puts the stock moved further lower to being down -$15 at one point, but then reversed and ended being down only -$6 for the day. It moved from being down -$15 to down -$1 at one point and then moved down again.

The stock mkt also moved lower today for a while and the moved back up.

Today realized that mornings/opening times are very hectic these days. There are a lot of sharp movements in prices. Stocks are moving very fast just displaying the high emotions that traders must be going through at that time.