SWN & Market fall hard Tuesday. – I was right about resistance but right to stick to my plan and take a loss.
So yes it still kills me that had I waited one more day holding my options I would of made 50% instead of lost it, but I stuck to my plan. SWN did fall below $37 to 36.67. However my sell point for my option only made it to .70 and not .75 so I would of had to been watching the market. The option ended up closing around .49 where I paid for it. So it’s a good thing I just sold. It does drive me nuts that I was correct in my thinking the market was due for a harder sell off but oh well I always have another day to trade my $380. I went to a meetup.com group last night for late night computer hackers. It was pretty cool. I kind of couldn’t focus because there were so many beautiful women. I’ll definitely have to go again. I wouldn’t say I got much done on my projects, but I got a start. SWN has started to regain some today. This Irish bailout is a new one to think about with China’s currency deal. They seem to be the biggest news pieces lately.
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This entry was posted on November 17, 2010 by Paul Awol. It was filed under trading stock options and was tagged with being right about my instincts, big news, china currency, irish bailout, markets down 2% on tuesday, meetup.com late groups, november 2010, Southwestern Energy Company, SWN falling below $37.