21 February 2007

Taking More Profits

Ended up taking profits in the OIH calls @ $1.70 for a nice 26% profit...now this maybe the start of some great move for the oil services or maybe not but this trade was a quick swing trade and I kept it is as one...clues were the ask just getting slammed (click on the MarketDelta Footprint chart above) and overhead resistance from Friday the 16th's swing high.
On other matters NQ futures ticking highs @ 1843 and as I've said before I'll take a shot in either the futures or QQQQ options at fading a spike into 1850...other than that, probably done for the day...jfg

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