The S&P 500 sold off in the morning to 1,063, yet closed at 1,076, 10 points higher than last Friday's 1,066. So net-net, the broad market was up for the week, not bad considering the bad geopolitics regarding sovereign debt in southern Europe, specifically Greece.
POTC believes it's extremely important, from a trading standpoint, to follow the S&P 500 and have an opinion on its direction from week to week.
Congratulations to all subscribers who profited from the BIDU trade based on on our PFF ratio analysis. Though we recommended an early exit, a return of 133% - 150% in 30 minutes of trading is still excellent.
We're looking forward to trading FSLR next week. We've spent many exhaustive hours researching, thinking, crunching, and feeling; here's looking-forward to Thursday, February 18th !
The Psychology of the Call team wishes everyone a happy and healthy weekend.
2 comments:
Bulls eye call on BIDU, I was skiptical about the selection of your strike price at first, but it turned out to be the best gain money can buy, with limited exposure (sort of) on the downside.
Too bad I did not catch the BIDU trade email until after the hour. But did make a quick trade on SLV (short it yesterday and covered this morning) based on your GLD prediction. Can't wait on your FSLR call next Thursday.
I am forever faithful of your analysis and wisdom. Have a great Presidence weekend!
Thanks Carl. We put in mega hours of time, but even that doesn't matter IF you're off on timing of entry. Thanks again, very much appreciate the kind words. More good trades ahead, but MUST trade small and smile when a loss occurs. Here's hoping FSLR will be a winner.
A fun President's Day back at you and yours, let's get this market started Tuesday!
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