Wednesday the hard way!

General notes
Just for the records I am into option trading for the 4th month. I have made 12 full trade. My winning ratio is 58,33%. Max drawdown at 14,77%.
Also...

• 13 trades left to go live.
• average days in trade: 16,8
• estimated date of going live: 11 October 2007
  

Watchlist additions and trade candidates filtered
No new watchlist entries.
TTC-A: CAM, CTSH, KSS, MRO, PD, WFR
MACDV: BOT, WFT
GAPH: (none)

Trade session notes
As the IBD big picture says yesterday might have been the first day of a new rally after the correction, to be confirmed. Thus, beside staying alert, if the market would go high regular long strategies might be used. Most probably though markets will stay in a range for a short while (intuitive influx). Thus, RSI Swinger might be the taste of the day! Will have to check, later.
As markets were slightly rolling south, I was turning for my fresh favourite TuTO and threw one on CAT 65 Mar Put (good volume, good volatility figures and moving up - against the market - on lower than average volumes).
Now I set the trailing stop - I hope, as for the MAN Put's trailing stop failed. Ok, I know it's just paper trade but still it is down to the 50% of the, already screwed, initial price.
Neither of my positions seemed to be right now. So, probably, I was overtrading. Thus, I will wait for some eminent trend to trade with. Also, probably I will query how the default trailing stop is working as it is not behaving as expected. (I have thought it will close out once the bid prints the limit).

Open positions at market close 6 March 2007

.ACLEG

ACL MAY 135 Call

$125.17

2

$4.20

$840.00

$2

$400.00

($440.00)

.MANON

MAN MAR 70 Put

$73.99

10

$0.40

$400.00

$0.2

$200.00

($200.00)