6:32 PM
Ann Tucker
Reason for entering trade:
QID has been bouncing off the up-trending support line while its underlying (QQQQ) has been bouncing off down-trending resistance line on lower volume.
I entered the trade order for a Jan09 67 Call last night for fill this morning. I had originally intended to stay in the trade longer...
But with the White House making comments about a possible deal for the automakers and possible interest rate change tomorrow, I didn’t want to loose my profits overnight. I've seen that happen to my trades too many times.
So I sold a call 1 strike price away to turn it into a debit spread to lock in today's profit.
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