Buying some more VXX
I have a couple of bullets left on the short side. I have been short since Wednesday and seen my profit erode right before my eyes. Lets see if the bulls can push past the highs for the week. I have decided that if BIDU doesn't open and close lower by Monday i will cut my losses on the trade. OUCH!
It sure does feel lonely here being short.
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Same here. I've lost more on BIDU puts in the last month that every other position in the past 6 months. Shame on me (again) for not setting firm stops. Same mistake 2x. 1st Feb 460 puts,now March 490 puts. OUCH! Obstinacy doesn't equal profit, right?
ReplyDeleteBIDU can't climb forever. I'm only hoping that it will settle in below $500 so that I can have a chance at regaining some of the....gulp...$2200 that I spent on the March 490's. One can dreamm...
ReplyDeleteAgreed. I can't believe how overextended the stochastic is for BIDU. Every bubble has its day, but damn if options don't have a way of frustrating hopeful bears!
ReplyDeletemisery loves company.
ReplyDeleteTypically when a company gaps like that i have a 3 day rule. Which i broke. I also wait for a new high to be made with tick negative on daily MACD, which i didn't do. Also i moved my stops.
I deserve to be punished.
Amen to that. Is a 5-7% pullback by March op-ex too much to ask for? Hell, if Apple can go from $215 down to under $200 as it did around earnings and the iPad announcement, I guess anything is possible. Maybe Google will strike a compromise in the next few weeks in their talks with China. Maybe the Yahoo/Microsoft merger will enter China. Maybe I will hit the lottery. Denial and justification are necessary attributes for a trader I suppose :)
ReplyDeleteFor what it's worth......
ReplyDeletehttp://seattletimes.nwsource.com/html/businesstechnology/2011204531_btgooglechina01.html