Review 26 September 2006 US Trading
Okay, I got $20 richer (duh!) from GE’s options. The MSCC shares that I bought yesterday failed to break through its support level so I think this stock has ended its downward movement and probably in a reversal point.
On the other hand, my Buy put contract on GE is suffering a heavy damage (another $20) and If I just let it expire, I have to pay the contract premium of $45! Duh… so much for “got $20 richer”.
But then of course, I’m currently on irony mode right now :-)
[...] MSCC. Several days ago I blogged about how this company will get lower and lower. The commentaries are correct, it is indeed going lower. I even short the stock and come up with quite a profit per share. Unfortunately, after covering my short position, I entered the buy position for the stock, and eventually on floating loss of -$0.6/share, under the influence of my friend’s advice (it’s already low, how can it go any lower?).LESSON: Make your trading decisions by your self. I do respect my friend because he’s more experienced in trading than me, but still, if your money is on the line you better think for your self. PS: I’m also the one to blame on this because I changed my expectations on the stock without going through the analysis deeper. [...]