Friday, October 31, 2008

Better Than Expected

The markets did better than expected: indicies are making mild gains. The Q's broke yesterday's resistance of 33 and has maintained some solid ground.

I decided to exit my long spread on the Q's and take my profit. I entered at 29, and sold at 33.20 on my 29/34 call spread. I could have squeezed out a little more profit by selling off most of my position and leave a small position open, but I resisted and took my gains, not trusting the last hour of the markets, especially today.

Good luck.