RamtaJogi— Hacking Life for Money and Fame.

OPTR – My friend and My enemy.

I was up by 384$ on Wednesday EOD on my short position and since then OPTR has been rising, reaching for the moon. I kept shorting it, it kept moving up. Today, I am down by 1040$ on my OPTR position. I still didn’t close it today. As I wrote yesterday, I was expecting OPTR to move up today and pull back tomorrow and Wednesday. If you watched OPTR carefully, you will see that the gain OPTR has reduced significantly today (10% on Thursday, 16% on Friday, 3% today)indicating that buyers are running out. In last hour, OPTR was struggling to hold 8.60, finally managed to break it and closed at 8.50. I think it will gap open tomorrow, close the gap and head down south. Let’s see if it does. I have patience till Thursday for this bugger to come down.

What do you guys think? Am I insane to keep holding OPTR? I know, ideally I should have covered on Thursday itself but now that I haven’t, what’s the next alternative? Let me know your thoughts.

GGP. After the initial jump to 0.56 cents from 0.46, GGP was trading in narrow range of 0.48 to 0.51. And once I was at work, I couldn’t keep an eye on it and couldn’t trade it. Even 3 cents move is 6% profit in GGP. Somehow, I could not get myself to trade it. And I didn’t want to force a trade, so I kept watching it. I will try to play GGP tomorrow.

For November 18th, my watches are again OPTR and GGP. I think OPTR should come down and I plan to capture 5 cent move in GGP. Let’s see how it goes.

Happy Trading.
RJ

P.S.: THE Muddy commented on my previous blog post. I am flattered. Thank you Muddy!