Getting lucid. And locking in the rest of the gains from AMR
Last night my parents said they’re leaving for their trip to Australia next Tuesday. I was like, “In three days?!” Everybody laughed and then I realized it was only Monday. The days run together sometimes when you’ve been as focused and working as hard as I have been lately. I stepped away from my computer last night and caught my breath and I’m going to go out and shoot all kinds of crazy guns with my friend Paul who’s a New Mexico State Trooper this morning. It’s earnings season and I need to be on top of my game and as lucid as possible. So should you.
On that note, I made a mistake in my profit calculation on my AMR trade yesterday when I wrote that I was locking in more than 20% gains. It wasn’t quite 20% and I didn’t want to leave that hanging. Regardless, I am locking in similar gains this morning as the stock is back over $2.20 again early and I am taking the trade. You’ve heard me say before that a trade is a trade is a trade and whether you win or lose on a trade, you take it when it’s played out. The bankruptcy-rumor trade has now played out for a nice gain for us with this AMR. I’m moving on from this name for now. Rock on.
Other than that, I’m looking to buy some BAC today as I only bought the Goldman calls last week as noted. Remember this too though — easy does it, we’re in no rush.
I’ll list my positions for you later today too. Stay focused, there will be pitches coming our way.
