Positions traded:
PMI o/n long @ 2.14, close @ 2.57
+$730.57
$6932.48
I woke up late for the market today. Well, considering I went to bed around 5AM, I should have seen this coming, but my wake-up was a great place to see the chart action. Had I been awake at open I might have been spooked by the quick small sell off. I've seen this happen too often. Especially after my RAMR o/n long a few weeks ago. After checking my Itouch in bed to find the Google finance(delayed) quote, I casually rolled out of bed to see my account steadily over $6900! When I when to bed, I was in $6500. The euphoria quickly settled into concentration. I was very calm and reasoned through my options. I was expecting a gap up, but quickly saw that ABK,DSL, XLF, and FRE/FNM had all fallen at open. VERY STRANGE. I always check related stocks for guidance on entering and exiting. Thats when I realized I didn't care what the 10/60 was doing. I saw it testing 2.58 and set my sell limit at 2.57. I was out with a solid profit, and had made my second biggest gain just minutes after rolling out of bed still not having showered or brushed my teeth. It was a great feeling. For the rest of the day, I curiously watched it and found out that PMI had maintained a great credit rating in the recent mess. This, i'm sure, was why we didn't see it sell off at open.
Nonetheless, I now have an awesome story about oversleeping with my o/n position in the gutter of the market. Hooray.
