Hard Decisions and UYG
August 4th, 2009
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The hardest decision when trading is knowing when to sell a winner. UYG is hardly a winner for me. I’ve held on to this stink bomb for quite a while now and I’ve managed to whittle my cost-basis down quite a bit by selling puts and calls as this thing bounced along what I hope is the bottom.
I’m not ready to close this one out yet but I am anxious to sell some calls on this to get me closer to my break even point. I still think it has some room to go, but there is a lot of supply available in the $5-7 range (see daily).
UYG 60 Minute
UYG Daily
XLF punched through some resistance and is in a pretty bullish orientation. All the MA’s are lined up nicely – but it is doing this on low volume.