Friday, October 21, 2011

It’s Friday! Europe And Futures Rise, Open Trade Update

Good morning! Asia traded sideways for the most part but Europe is up this
morning and it looks like it might stay that way before we open. Right now the
main index futures S&P 500 are up 5 points, DOW 45 points and the NASDAQ 11
points. Seems to be some hesitation ahead of the EU leaders meeting this
weekend. Well see how the day unfolds. Plans for GLUU are as follows. Alerted at
$3.10 after buying 5,000 shares, the idea was to ride Apple earnings to $3.45.
When Apple missed I should have alerted a sell first thing and move onto other
trades. I didnt so Im working out of the trade now, best I can. Thursdays
premarket video talked about how I was watching $2.90 support and that it must
look like it was going to close below $2.90 for me to be concerned. See support
is only broken when the market closes below it, intraday dips only weaken it.
Anyways, a rally from $2.65 took us right back up $.25 to $2.90 at the close.
Ill be honest though, it was a bigger risk watching it down at $2.66 than was
necessary. Especially after making $1,200 on this one last week from $2.66 to
$3.07, really frustrating to give it right back. I had a bid in at $2.65 and
announced that in our Skype room: JasonBondPicks. The dip only hit $2.66 so I
didnt fill but I decide to swing 8,000 more shares at $2.75 and $2.82 (3,000
shares I bought by mistake and sold later). Today if the markets can rally a
little we should be above $3 meaning, if you followed my lead,

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