Monday, March 8, 2010

I am now fully long!

I bought a Visa Jun 10 $85.00 Call Option for a total cost of $775.00 including commissions, after it broke through the magical $90.00 mark.

I am looking to hold on to this until (a) it violates the last pivot low just below $84.00 (b) the intermediate term trend clearly reverses or (c) the option expires.

I am very confident about Visa near term and long term so I will hold this position with peace of mind no matter the outcome.

Now I am close to 200% long in anticipation of a continuation of this intermediate term rally in the markets and leading stocks.

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