Well, Duh!

I started watching AAPL rise friday afternoon and thought that if the market was up this morning, it might make a good Call play.

During the pre-market, I could see that AAPL was going to open up outside of the top BB so I figured it would fall back within bounds before resuming the up move. So...I watched as it began to fall shortly after the opening, thinking, "yep, it's going to fall to about there, then it'll turn around and I can get in a Call play".

The whole time it was falling, I kept analyzing the charts and thinking, "yep, still has a little room to fall."



Well, duh! Instead of waiting for the call play, I should have entered a put since I was certain it was going to back up and that is the move that the stock wanted to make.

I was so focused on making a call play, that I completely ignored, and missed out on, the more obvious put play. I need to get over my predispositions and trade the way the market wants to trade.



Edited 1 time(s). Last edit at 05/28/2013 10:29AM by robert.

LOL! Welcome to Normal Ville! You can play that on ZNGA.