This is not my first trade of the year but I am posting it to remind myself how fortunate I was in this trade. What happened today was GOOG stock tumbling over $15. I had Jan10 630 call options and luckily I sold all of them right at today's open, which GOOG started off up $1. I did not even have the mentality to short GOOG after I exited the trade even though I knew full well the stock was breaking supports left and right. The reason for not shorting was because I was shell shock to have escape my call trade with a profit.
The technical indicators had the stock lower however I kept the call options overnight which was a major mistake. I knew the stock was getting weak but did not anticipate on a $15+ downward day for the stock on a otherwise subdued trading ranging for the overall indexes. Next time I will make sure not to flip back and forth between going short and long on GOOG and instead stick to my original plan. My original plan was to buy Puts which I did but sold one day after for a measly gain and went long on the same day. I had studied the pattern that GOOG's upward short term trend was slowing and anticipated on a drop, just timed it way off.
On a side note around 3pm I bought a NDX vertical put anticipating on accelerated drop in the NASDAQ due to major tech stocks such as AAPL, AMZN, RIMM, IBM, INTC, & GOOG all were looking to accelerate downward. That I am making a profit on and will probably close out the position tomorrow morning to avoid any positive push Friday's unemployment numbers may bring to the market.
Taking it one day at a time because there is nothing better to do than living in the present.
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