Sold WM

Sold at $4.33 so a 50 cent profit.

Was not focused on the short term and missed the boat both times it came near $6.

I was of an opinion that things were on a real reversal. It seemed early but I bought into what the talking heads were saying.

Now I suspect that oil and the financials will bounce around a bit and then the the bears will have their way.

I'm watching USO, DIG, IYE, DUG, IYF, and SKF for signs of a reversal.

Maybe --

USO: 75-85
DIG: Perhaps a move to 84
IYE: Not sure about this one -- maybe 45
IYF: Hmm... short term - if it drops to 70.. longer - if it goes up.. say around 78.. look for the reverse
SKF: 126-128

Regarding options -- I need to figure out how far out I should buy. Current seems too risky unless I'm aiming for a few cents or am willing to pay through the nose for the options.

Seems to me that the risk/reward ratio is too skewed on expensive fast movers.


Hmmmm

"The Ultrashort Financials (SKF) may be an option as the stock approaches $100. Sell-stops can be set below that level."

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Closed out the GM and SKF options. Approximately 80% loss