Day off

Posted by downtowntrader | 3/15/2007 09:15:00 PM | 0 comments »

I took a day off today and will be doing the same tomorrow, so I don't have much analysis to offer tonight. I basically tracked my open positions on my Treo 700 today, and the way I saw it, today was a slightly bullish consolidation day. Tomorrow is quadruple options expiration day and I'm not sure if we should expect a narrow choppy day or a volatile day. Either way I won't be trading. A reader asked me a while ago why I don't trade expiration days, and the simple reason is I don't feel confident doing so. In MY experience, I have been in more headfakes and false moves then usual on expiration days. I'll see a stock breakout and then some program trade kicks in and knocks it back. I can blame many things for it, but the bottom line is I have had bad days on expiration day before, and whether it's in my head or not, I prefer to just take a day off. Maybe this is my subconscious fooling me into taking a day off, or maybe there is more to the strike pinning phenomena. Out in the blogosphere, I see other traders who feel the same way and others who treat it as any other day. To each his own I guess.

By the way, if any one has ideas for good spots to visit while in Spain, please feel free to comment or shoot me an email.

Good Luck,