Friday, November 02, 2007

LIVE trading journal for 11/2: Trade Plan

After going through last night's preparation routine, I can summarily say that either the stocks are coming back to areas where I can get a second chance to load or we're all fucked and this market's UP move is done for now. And I don't know yet which one at this point.

All I can do is to tighten my trailing stops to protect some of my gains in MA VMW AAPL BIDU GOOG. Move my stop point for CHL WFR AGU MOS MICC to break-even point and for FMCN, I will give it maybe 3 points from my entry point of $63.50 yesterday and that's it.

This will quickly move my portfolio to CASH which will not be a bad thing at this point if this massacre continues.

I will also be looking to buy some PUT option calls if and when the volatility subsides and a clear trend starts to emerge.

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