I closed the IWM trade on 9/8/10. The expiration of my option was 9 days away and it looks like we're due for a pullback. I was looking for the move back up, but I simply ran out of time for the correction.
It was a mistake to enter this trade. The stochs should have been in the oversold zone and crossing up out of the zone. However, this DUNCE got in when the stochs were in the middle of the normal zone - not good - obviously.
So, not a real strong way to start back up the trading.
I took a $344 loss with a negative 72% ROI (return on investment). Not one of my prouder trades.
From here it looks like the markets are going to pull back. We may be able to get in a quick bearish trade, if not, then we'll figure it out from there. For now, we're just back to being patient and waiting for the next entry.
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