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Monday, February 2, 2009

I do not see a good risk/reward here

I sold my GLD calls for a bit of a loss. Looks like GLD could not manage to maintain the breakthrough out of resistance and fell right back under it. Well I think there will be better buying points .
Oil, no clue what its doing, but I will be patient. Not easy but worth it, unless it falls below support.
I am just not willing to risk anything here as the p/c is low and we are not seeing any major weakness or strength . BRCM showed good strength today but it needs a major move for me to recover some of my money from that trade.
The vetereans say" when in doubt , stay out". So keep you cash ready for another day.

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