Got into LVS yesterday. Short Put 130/125 Nov for $2.00 credit
I hit the entry pretty good, right at the bottom channel support @ 7:55am
Sold on the high imp. vol., solid uptrend and support bounce at $122 confirmed that morning's open, and Sto. crossover below the 30 line. Watching the slightly lower recent high @ $140 closely.
Goes with: will set OCO to exit at $0.05 short - cha-ching.
Goes flat: see above.
Goes against: Have soft alert set at $127 at Fibo line. Buy back short and them close long put soon after.
Really Goes against: Placed hard stop at $121
13NOV07 - The entry was sweet, break of pull back with confirmation. The price created a nice uptrend line to $147.50. Broke the upward trend and I thought, naw, I won't sell yet. I have plently of premimum left and lots of room to move before things go bad. WRONG! I should have cashed out right at the break. Gapped down the next day and thankfully I sold. The next day it sold off heavy the next and confirmed a triple top and dropped hard over earnings. Thankfully I got out with only a $10 dollar loss + $6 commisions. I held past the trendline break.. BAD. Sold before my trigger... BAD. Cut my losses short... GOOD.
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