Wednesday, August 13, 2008

CMED position update

With yesterdays brutal gap down, I closed my position at average price of $51. The trade was still profitable but not as much as I have hoped for.


OE Trader said...

I'm seeing more and more companies using momemtum in their stock to raise capital. A few of the energy/coal companies did the same recently. Consider rolling your stock position into at-the-money options (Aug 55 Calls) just in case.

MC said...


That may be the case because the positive sentiment gives then an open market to take advantage.

Thanks for the advice regarding the options but I closed the position the day it capitulated.