Sunday, April 26, 2009

Stopped out!; April 26, 2009

Well knowing the larger trend was up I took a very aggressive approach and tried to fight that trend and short the market using options so my risk was small and well defined. It has not worked out. I was stopped out of the trade Friday as the market continues to rally. I don't want to fight this market anymore so I'm going to either wait for a pullback to get long, or look to short if this market continues higher for the next few months.

My focus will now turn to the longer term picture and doing covered calls, collecting ETF dividends, and waiting patiently for the next chance to strike.

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