Since my self-induced weekend portfolio disaster I was looking for another entry into the market on the 30-min chart. That came at 12:16pm today when the 5-min chart and the 30-min chart agreed.
As long as my position doesn’t go negative I’m going to stay with my 43 Nov Put for the day at least. I actually had sold the same put at close on Friday with the thought that you never hold a short-term position over the weekend. So buying back that position was a natural. I got it for $2.02 after Friday’s $2.30 sell. Can’t count it but it was the right thing to do.
Remember, the rule is “Protect Principal First”. Currently my position is up 22 cents but was up as much as 38 cents. I mention this because sticking with the 30-min chart will give me plenty of time to sell at a profit even if it won’t be at a high.
