Markets have opened on a weak note, on marked weakness in EUR YEN and GBP YEN overnight due to strength in YEN. However, that brings all Indices as well as Carry trades to Fibonachi supports or wave b of abc rally. This will help shake out all weak Bullish participants, assuming this is still a rally in the overall Bearish down move.
Many stocks have GAP opened and that usually means Market Makers will have fun filled swing ride. Using this opening strength, we closed our trades in RIMM and FDG.
2008 Project M .. TRADE # 09: RIMM
Feb 04, 2008 09:50:01 RIMM Buy Mar 100 Call $ 3.58 .. 4 Contracts
Feb 11, 2008 09:55:42 RIMM Sell Mar 100 Call $ 4.00 .. 4 Contracts
Time: 8 Days
Return: 11.73 % or $168.00
2008 Project M .. TRADE # 15: FDG
Feb 08, 2008 10:24:38 FDG Buy Mar 45 Call $ 3.70 .. 1 Contract
Feb 11, 2008 09:55:46 FDG Sell Mar 45 Call $ 4.10 .. 1 Contract
Time: 1 Day ( Weekend Overnight trade )
Return: 10.81 % or $40.00
Account Value: $ 7,192.00
Good Day
Harry
