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Wednesday 16 April 2008

Apr 16, Gap higher and morning Bull run

I traded the first 2 hours and made a trade in the afternoon. You'll notice I put on option position on POT. I bought 1 PUT strike 195 for the month of June, costing $1,745. My target is for POT to go back down to 180-185 in the next few weeks as I feel the stock is overbought, and some of the Ag futures look like they could be setup to rollover in the next few weeks if my theory on a head and shoulders formation is correct. I'm gonna give this PUT some time to play out, but hope to be out of my position by mid May if not sooner.


Sold My ER2 longs WAY too SOON!
Very Bullish NYSE A/D off the open.
Bullish NYSE TICK readings
Oat futures- potential head and shoulders-

Corn Futures at all time high today-
POT at all time high today, outside of upper bollinger band-
Alltime high on MOS-
All time high on MON too.

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