Tuesday, December 12, 2006

Where did I put that towel? (trading)

So… I’ve slept on it and then watched as Sandisk continued to throw off money again today. It is all but a done deal that my December covered calls will expire this Friday without anyone wanting to give me $50 per share. Too bad, at $50 per share I was going to throw in a big Thank You card, a cleverly wrapped box of chocolates, and a music playing Christmas card.

In all seriousness, I feel the odds of making money on this stock, near term, going against me. I feel there is something I am missing or not understanding about something going on with this stock / company. That is not a position that I want to still be in come earnings time. I will be looking to unwind my position in the coming days, take my lumps and move on to the next opportunity.

Just writing this is aggravating. For me making a bad call is like taking a UFC elbow to my brain and confidence. The money loss is just a (BEEP BEEP BLEEPING) exclamation point on the whole thing. A not so subtle reminder to do better next time. I’ll let you know how it unwinds.

That’s it today. Here’s to taking the medicine and getting better. Keep an eye on your Everyday Money

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