7/11 – some follow through, then bounce

The market is gyrating. Some follow through from yesterday. And it is rocking for me.


The market is gyrating. Some follow through from yesterday. And it is rocking for me.
CREE – Jan/Dec 25p sold 1 u for .15, Sold Jan 30p 2 units for .20 to lock in some $$. It is said that most traders chip away and chip away, but when they look back and see a few trades that made their year.
BWLD – I am looking at a Aug 40c/45c/50c Butterfly. 7:1 reward to risk ration
CLF – Underlying continues to rise
NTES Aug/Sept 20p is widening
IACI is supporting, I would like to see a drop to test lows.
I am looking at a SPY July Butterfly 147/151/155p. bought for 1.55.
CRZO – I added 1 unit to the position for 1.20. Ave price 1.45. The 50MA is @ 41.10. I am anticipating a bounce. However, I will stop out @ .70 for the Oct 50c, or $40 for the underlying.
crzo.gif
The Account is looking good right now.
Off to play some golf. Tomorrow I will trade early, then I am doing an Identity Theft Seminar.
Trading Psychology: this is basic, but pretty good

Enjoy Joe Satriani

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