The volatility in the market is unbelieveable. I traded the NQ a little during the day, and still holding the calls on VIP and puts on RHAT. No clear reason to exit yet. So putting this all into perspective, it is still pretty smart to wait until all news is out on the table as of Tuesday, and then trade the direction the market takes afterwards.

Keep an eye out on AAPL also. Hopefully you have heard that they are going to "restate" earnings. You know what that typically means.

Well, I have made an executive decision. I think you all need a solid weekend. Don't take offense to anything that has happened in the market this week. It does not reflect your capabilities, it does not reflect typical conditions, nor what will happen in your account next week. Leave it all behind as of 4:00 eastern and do yourself a favor by not thinking about it all weekend. Start fresh on Monday morning with a clear mind, a positive attitude, and a desire become a better trader.

Tomorrow is always a different day. Until Monday, thanks for the support and have an awesome weekend!

Jeff

Posted by Option Addict on 8/04/2006 at 1:01 PM | Permalink