Thursday’s practice trades – entry points were too early – how to deal with friends with job security problems, dump’em.
On Friday the market swinged both ways but ended down instead of a second day up. I’m not surprised the market didn’t do what it might have done normally in a typical November month, but at the same time it shows still how emotionally unstable wall street is. I looked at my charts and after todays losses my same call picks are down, but still did not close even close to the open of the big white candle on wednesday. This brings me to the conclusion that stocks are still likely going to continue up after that strong day. Also on almost every chart I look at I see reversal hammers which supposedly mean they will hammer stocks up higher/lower depending on if its right-side up or showing to hammer up/down. Right now its showing hammering up with also a cloud of long wicks under showing stocks are finding their lows and aren’t falling much more.
I added RIMM to my calls for JAN 36.63 CALL @ $8.53. It’s a weird call. Check out RIMM’s options they are strangely numbered. I suppose that is how they were setup.
As for my personal life and friends heres a note – My friend who works for a prestigious internet conceirge travelers company constantly complains about how he will be laid off soon, how he has been submitting resumes for 1 year now got a big interview and wasn’t hired, and blah blah blah. He tells me since I’m in the military I can’t feel the pain. It is really getting on my nerves. This guy has a good job right now. His company has let others go but has kept him and he doesn’t man up and just relax. At least wait until it happens, collect unemployment, and then do something you’ve always wanted to do. He has no bills. He has a home but its fully rented. I’m considering not even hanging out with him anymore because his constant negativity about work, life, ex. He currently feels like a leech sucking off my energy and care. I ask him if he has read books that will at least open his mind to not just “job security” and he just jokes back and tells me they can’t help him. Well apparently they can not with his current attitude on life and money. It’s really sad. I’ll likely have to tell him soon that until he makes a mental shift we can’t hang out anymore because I don’t want any of his bullshit to rub off on me.
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This entry was posted on November 15, 2008 by Paul Awol. It was filed under trading stock options and was tagged with bought rimm 36 call options for practice trading, forget job security and work on yourself, friends that feel like negative sucking leeches, getting laid off, how to deal with friends personal problems, how to practice trade options, too early entry points on stocks after big day.