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TheYanus

Going long on US market

Long
SPDR S&P 500 ETF TRUST (AMEX:SPY)  
TheYanus Updated   
AMEX:SPY   SPDR S&P 500 ETF TRUST
Trend Analysis Chart Patterns
3
1
trendanalysis chartpattern
One call option with strike at 305.

The base is simple - Recent FOMC announcement revealed that the Fed will continue to push the market higher. The hitting of a new high level signaled the buy.
Comment:
@ShastryAnanth, I was using the minor guidance of buying the SP 500 at the close of the market.

At the moment of this review, I see that it dipped but eventually began to gain going into the green.
Comment:
Note - 24.62% profit on the option since June 20.

I am considering implementing an update to the risk management side. Namely, having a mental stop loss not for the option's price, but a market level.
Comment:
I stuck to it. Incoming rate announcement..
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