Marketwatch has a really good article today on charting and the author’s thoughts on whether or not this is a dead cat bounce we’re in now. He also lists a few stock picks worth checking out.
It appears I might have missed my chance on CAT that I mentioned yesterday as it’s up good again today. I put a limit order for $2.00 to sell one Sept 75 naked put. It could dip down and hit at any point, but I could have sold a market order yesterday and gotten more.
EDIT: My limit order for the September 75 (CATUO) naked put hit not long after I posted this and I received $189.25 after commissions. CAT was trading at 78.14 on its way down to 77.90 before coming back up from its morning dip in the shallow end of the pool. Yesterday’s close for this option was 2.42. I regret leaving that money on the table, but prefer to spread out my orders these days in the likely event of another beating to be issued again without too much warning. The high for my put that I sold at 2.00 is 2.02 so far. I’m happy being that close for the day, especially with CAT moving north again.
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