Monday, November 3, 2008

As per my prediction GOOG did fell to almost -$17 at one point today but reversed and ended -$13 for the day. I sold my put for a profit and was happy with this trade. However, I bought 3 calls on GOOG using the same reverse strategy of buying calls when the stock is down and buying puts when it is up.

Although, I believe I hastened the move, the last trade worked because I waited for a few days after the stock has gone up and let it come down a little before buying puts. I also bought only one put the last time but this time I bought 3 calls. The reason I was being so bullish is that of the environment at the time. In two days the election will be over and everyone thinks there will be a rally after the election. I don't want to miss that rally.

FSLR trade has gone into a loss the stock was up $19 for the day. It seems to be unusually strong this time. I could not get out of the trade today, hoping the stock is fall soon but instead it kept moving up.

I am unwilling/unable to admit that I was wrong about FSLR and take a loss. I am still hopeful that the stock will go down tomorrow and I will recover my losses.