Thursday, January 24, 2008
Qs knocking at resistance
Qs managed a nice gain today, but are finding resistance at the 45.00 level. (After hours Qs are up .36 in response to MSFT earnings). It looked like a strong day for the Qs with only a 50 % retracement to PP, which was unusual. I was set to buy the puts at 10:00 and then my Schwab platform just quit. It came back for a few minutes, but no option quotes, then it came back 5 minutes later and, of course the puts had gained .04 in the interval and I wasn't that enthusiastic about buying them and then getting trapped if the platform went down again. . . which it did several times in the next 30 minutes. I hate when that happens, because there's nothing worst than being in a short term trade with no high speed data feed and no operative trading window to get you out. I stuck with my EK swing trade through the day. Yesterday I was kicking myself for not picking up some EBAY ahead of earnings. . .glad I missed that one! Dumb luck rules.