Swing. Just bad plan. Listened to someone & not a lot of analysis. Can't add chart.
Entry comments: PBF is an energy stock, which is a very bullish sector. Trading above the 10 month SMA so is in buy zone. Trading below the upper Keltner channel, so is not overbought. $9.30 premium satisfies the 1% rule, as the intrinsic value of option is 9.30, (stock price is 31.30) giving it no time value. As it goes up, I start to profit!
Exit comments: Another Friday and the market istanking again. This option was stagnant for 2 days, and started to drop this morning. Time to exercise Rule #1. Cut my loss quickly
STUPID!!! trending up on daily and bounced to AT LEAST 28.5 sooon as I sold. When level is 28 have to watch the level closesly to see if it may BOUNCE!!! Buy on the bounce!!! STUPID!!! 2 days later sitting at ATH at 31.5!! ridiculous!!!
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