MYL - loss

The markets are completely schizophrenic right now. This isn't just my diagnosis, but many other traders as well. Don't even bother listening to any news related to the stock market or you'll become even more mixed up in the mind (even more so than usual).

I follow a few different trading blogs to get some different perspectives and the one thing that the different traders agree on is that this is a VERY DIFFICULT time to be trading. But, I'm a trader and that's what I do and "what does not kill us makes us stronger".

So, I took a loss in MYL yesterday because I have 2 days consecutive closes in my stop zone. That's all there is to it. Nothing magic, I'm not upset, the market is not "out to get me". The stock simply didn't go where I thought it would mostly likely go. That's all, so I took my loss.

Here's the chart:

Fairly straight forward and simple. I thought it would have gone up to hit resistance. Instead it broke through the recent support. It MAY stop at the 50 and 200 day moving averages just below it and bounce up to kingdom come. It MAY break down through to averages and go to zero. Or it MAY just stay in this same zone for the next 4 weeks. I'm not a trader who relies on possibilities, I'm a trader who relies on PROBABILITIES.

I originally bought 2 Call options for $0.54 each and sold them yesterday for $0.17 each. For a net loss of $0.74 which equates to an ROI loss of 68%. Not pretty, but that's trading.

Now, onto the next dealio.