Added some POT July 240 Calls today - and fortunately, when I got in, it was only up $1.70, since it finished up $9.23. I think there's more upside, hence the buying of the 140s but to keep risk down, I'll be using this trendline as my hard stop. Fundamentally, there might be a shift into commodity stocks but as we all know, POT was up today because of the magical little straight edge I drew beneath it on the chart.
Also, GS did what it was supposed to but as I mentioned yesterday I really wanted a better entry so I passed on it. Hopefully, we'll still get a bounce in the near term to provide some better entry points.
To further pat myself on the back, brilliant call on CME, GLD, ADBE, GOOG, ICE, GNK, MMM, PG, and really the list goes on and on. Have a good weekend.
OPTIONSPOT
Friday, June 27, 2008
Potash Corp.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment