Monday, September 29, 2008

The quick or the dead

I've gone bamboo with this market. I have very stringent rules that I follow on entry, exit and trade management. The last few weeks had me throw everything that I have been doing and started to react to price fluctuations.

My average holding period the last few weeks have been 3 to 4 days. Probably my natural instinct kicked in to keep me alive in this market.

Going into this week, I was holding AAPL as my main long position which sucked dirt this morning so I was force to get out pre-market at average price $120. Even my other long positions JPM and BAC kissed the pavement when selling kicked in afternoon but I kept my positions. My only positive positions are my put option contracts on CF AGU POT.

I'm in survival mode at this point and I'm operating at 10% of my buying power keeping the rest at cash. No need to try being a hero.

1 comment:

OE Trader said...

Wild markets, Pinoy. Good to roll with the punches until its time to pounce.