Joy Global, Inc (JOYG) pays off
The last thing I thought I’d be seeing when I checked my account during lunch was that I’d be up over $300 for the day so far. I thought the sorrows of China would carry over to us for more than a few hours. My biggest gainer of the day is Joy Global, Inc. (Ticker: JOYG). JOYG beat sales estimates and reported higher operating income and is up over 8% today. My June 50 put expires in a few weeks and is only worth $0.35 today.
I’ll ride out my June puts. For those who don’t have an interest in JOYG yet, the July puts could be a nice way in. Looking at he JOYG chart you can see that it briefly dropped at the open today and bounced off its 50 day moving average before rocketing up ~$6.50 to pass both the 10 and 20 day moving averages. If it stays above those trend lines tomorrow I will have to consider getting in deeper.
Comment by Kadena
From recent posts, I don’t keep a trading journal, but need to seriously consider it. Since I got going in Oct. 2005, the markets have generally been up. I’m thinking how I would feel if they turned down and I lost my gains. Have a chance to cash out tomorrow of some money, so I can return to better diversity. I’m really wondering what June and July hold for everyone. Also, can’t help much with vacation thoughts, other than the old saying “cash is king”, so save some.
Comment by The Trader
Kadena, Give the trader’s journal a try. Even in a bull market you’ll learn a lot from yourself. It can be as simple as you want. Mine started with an excel spreadsheet of just the trades I made, then I added a notes section and eventually I moved to a Word doc and then here to my blog.