PALM:
Well, so far I have gotten my you-know-what handed to me on this one. That pennant formation did not pan out and apparently those insider buyers are losing big time. Again, I was away and couldn't trade. But if I could have traded, I would have probably gotten out and fixed the trade once the pennant was broken to the downside and we had those few days of sideways action.
No use crying over spilled milk. From here I MUST buy back this trade before November expiration and take my lumps (unless some amazing happens and we get back above $16.
I'm going to wait and see what direction we go from here as we're sideways again. The markets moved up well today so maybe they can pull this one up. Either way, I'm going to just plan on extending this trade out a bit to turn it into a winner (or much less of a loser).
Next is FAST:
I'm feeling fairly good about this one. It's moving back up nicely and I don't see any real need for action right now. Just going to take it day by day for now. Not really worried.
Now onto SMH:
I feel fairly decent about this one as well. We're getting close to where I sold the spread. The only little nasty is that 50 day moving average that we're hitting our head on today. The stochastics is high (could be bad for us), but the MACD is low and rolling up (could be good for us). So the indicators are a tad mixed.
Again, no worries, just going to take this one day by day.
At this point, we're all caught back up. I'll take things day by day and look to take profits or put on new trades accordingly. Even thought the market went against me, I do believe that I'll still come out on top.
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