Our fourth trade of 2008 Project Mercedes was triggered January 16th and underlying security is MCD.
Markets continued rolling down and nuthin could stop the carnage. Markets are seriously OVERSOLD and everyone is waiting for the pain to stop.
Let us see how the coming week works out and we will seriously watch our trades. Inspite of freefall in overall markets, our underlying stocks RIMM and MCD seem supported by major MVA,s.
Monday is a market holiday and that should help calm the nerves after the option expiry week and as well as refocus on Fed Jan 29-30 meeting on interest rates.
Happy trading.
Harry
