Today is the Friday expiration and options for the month of November will expire after the trading bell. My plan to breach my earlier 486 percent profit record evaporated into this air. Hence I’ve no other choice but to take whatever remaining profit left. And guess what, just after I’ve locked the profit, the trend reversed. Yeah, I know I’ve lost thousands of profit because of my plan but seriously I believed Google Inc. could touch the $800 level and I still believe it can. Maybe the Nasdaq Composite needs some rest or rather the technology stocks need to take a coffee break, so much so the moment it spotted an excuse to do so, it dropped like a rock.
Any regret? Well, the potential profit was good but if I didn’t challenge myself I wouldn’t know if I could make it. Trading is all about pushing yourself to the limit, at least that’s what I believe. This round is also a good exercise to test my emotion. Of course along the way, I made some tiny profits scalping Google with Put Option. So in a way there were consolation prizes. But it’s part of the journey.
I’ve said Google took 20 trading days to reach $700 from $600 and it took even a faster lane to drop from $700 ($725) to $600 ($625) – a whopping 8 trading days. Let’s see if Google can repeat its sprint to go up back to $700 again. Or will it try the $500 level instead?
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November 16th, 2007 by financetwitter
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Comments
hello tony …
stocks plunge is always the fastest train you can ever catch … ISRG used to be my favorite but it’s too much of an expectation … i would say ISRG’s products monopolize it’s medical devices yet tell investors that you’ve slightly higher inventory and you’ll feel the punishment …
you need to have very deep time-value if you wish to long on this stock …
i might be wrong though … cheers …
Hi stocktube :
Amazing stuff.
some stocks really dropped much faster than the time they took to make such an impressive climb.
Just take a look at ISRG, the stock went up 60 points after an impressive earnings quarter to reach 52-week high of $330 in late Oct 2007 and just recently it gave back ALL the full 60 points and fell back to $270!!!!!!!
I really pity those people who have bought the stock at the peak of $330. But just like GOOG, ISRG is a great company which produce the unique Da Vinci device and the stock should go back up after this bearish period.
Yours Truly,
Tony Chai
My Options Trading Blog