Well, here is EXACTLY the kind of screw-up I’ve only executed a few billion times in my trading life. Yesterday morning, following LULU’s gigantic surge, I went long puts on the stock. By day’s end, the puts were up about 5%, and I intended to hang on to them for at least a few weeks. This morning, however, during the insane run-up in stock prices, I panicked and dumped them at a loss. I did so at the EXACT millisecond they peaked. I’m disgusted with myself.
As you can plainly see, LULU resumed its proper trajectory (DOWN) immediately thereafter. And, just to pour salt on the wound, the daily chart looks better than ever. I have ever confidence this thing is going to grind down to its gap (at least) and throw off a huge gain on those puts.
This was all within the context of the idiotic pop in the /ES this morning, which as of this typing is close to death.
Same old same old. Brilliant chartist. Piece o’ shit trader.
