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jenna

03/31/04 11:16 AM

#22083 RE: jenna #22082

BBY +7% two days shorting and a straddle with the calls picked up later in the session yesterday. Traders always balk when the opposite positon is called finally after 2 days of trading on short side, but it almost always works! Multi-day upside expected and holding a portion of these calls as late as options expiration. We did not have to hold through downside in the past 2 sessions which would have cut our gains to zero or even negative.

Finished trading here and just nursing those gainers, we recommend NEVER locking in an entire profit if the sector itself or earnings play is heading higher but just has paused for either a consolidation or a small bull flag only to break to higher highs. We recommend selling but only incrementally so we are in the same positions through 2 or 3 reversal periods (3 hours-4 hours instead of scalping for peanuts) Many of them turn into swing trades which no doubt are adding up well ACROSS SECTORS.