Friday, November 18, 2005

Sandisk - a failed trade

I closed SNDK position, took the loss of $250. :-( I bought back the covered call and sold the shares. Covered call premium limited the loss in shares. There is always a risk in going with the momentum. When the momentum turns to the reverse direction, things could get real ugly. I could have waited for SNDK to come back up. I don't want to hold up my money in SNDK and do prayers everyday. There are always other opportunities.

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