Monday, January 28, 2008

Hard to Watch

The daily volatility is sometimes hard to watch. I am still about 60% in cash, happy that ROCM is seeing some life (I actually took some off at $14.00 - I was top heavy). I am also happy that EGY has bounced back even though their 1st North Sea venture was not successful. GRMN's price action response looks like a bottom is in and AAPL seemed to form a double bottom just above $126.00 this morning. If I can just ignore my AAPL call option losses, then things don't look so bad.

I also closed out my SPY puts when the market started to turn positive this morning for an 80% gain. I will add again probably soon, still expecting a retest of the current market bottom.

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