A follow up from 2 weeks ago... Coincidence? Not really... I would be looking for just a little more pullback and then what? Well if the markets were bottomed, which they are a long ways from.. I would say buy in the higher 150s to 160 range. Being the markets still have a very large fall coming, I see this more of a netflix. If you must buy though... for whatever reason, I know there are many of you on this board... well target is pretty close to being reached. I personally would not be buying long here... exit the short and it's done. Check back when the markets are done coming down and re-evaluate.
When you bought a put for this, what expiration date did you select. I am still trying to gauge the ideal expiration date for my self. I currently don't swing (I just scalp) but I am considering doing longer term trades. I know you don't like day trading.
Original_Stock_Whisperer
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@DansGoneFishing, for the 160 mark you mean? I would give it a couple of weeks (4ish). I didnt do puts.. I prefer doing shares. More control in my opinion. I am not big on doing options, I prefer shares. Most of what I look at though, like my CMG play, USO, etc is 1-2 weeks out. I think you will prefer swings .. it lets you see the more likely moves and with patience waiting for entries, you feel more comfortable putting larger amounts of money into it and almost always do they play out. It also lets you focus on your day (in your case, teaching, HOPEFULLY, I hope those kids arent sitting their watching the teacher play the market on his phone, lol) and keep your sanity. To much market to me, makes me miserable and gives me a headache.
Namehyunwoo
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I was literally just looking at this like a minute ago and BOOM you posted this. funny how the universe works.
Original_Stock_Whisperer
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@Namehyunwoo, hahaha. that is strange! I would be a little more patient before entering in long. Just what I would do.
Namehyunwoo
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@Original_Stock_Whisperer, Its gonna be pretty volatile with fomc, market will probably go down like always after old people meeting.