05-06-10

Crazy day in the market today! Hope no one got hurt too bad on their trades. Just taking a quick second to let you know how the portfolio made out.  I adjusted the all the trades in the morning and held all the positions through the panic sell off this afternoon.  The reason the trades were held is that when you get a sell off like that, the options prices are nuts and there is no liquidity SOOO… unless you saw it coming and pulled out early, you will not get out of the trades without a devastating loss.  99% of the time in this situation your better off holding on for the ride and selling when the market levels out, whether it comes back or not. The market closed with all the trades within their max loss limits except the method 1 which is 30% past max loss. I have to say however, I do not believe what the T+0 line is telling me. We’ll see where the chips fall tomorrow and make some decisions if and hopefully when the market settles in the morning.