Thursday, March 11, 2010

Update

Since my last post I have been stopped out of ASPS and I sold 50 shares of CIT.

ASPS announced preliminary earnings which resulted in a panic sell off that triggered my stop.

I was a bit uncomfortable about the size of my position in CIT since it did not blast off as I had initially expected. So I trimmed my position by 50 shares reducing my risk exposure by close to 30% on that position.

Currently, I am still holding onto the Visa call and the remainder of the CIT position. The markets could pullback at any point but it is not necessary to worry about that. I have my system that tells me when to buy and sell for my individual positions and thats all that matters.

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