Good God. It happened again.
On Friday, I closed out my AA (Alcoa) puts for little better reason than I was bored with them. Aren’t you dazzled at my charting genius with that kind of rationale? Well, you know what happened first thing Monday morning.
Honestly, I cannot get out of my own way. And the thing is, I would LOVE to be in this position now, but I’ve already pulled the stunt of jumping in AFTER a good entry, watching the damned thing strengthen a bit, and then taking yet another loss. No thanks, I am staying out. Which probably means it is straight to bankruptcy for Alcoa from here.
This is the longer-term view. You can plainly see the monster top.
Here’s a hot tip for you: I dumped my UPST puts this morning! Why? Because I was bored with them. So you can count on UPST collapsing tomorrow as surely as the sun will rise in the eastern sky.
