Well, that was a nice U-turn. About the only silver lining, from my selfish perspective, of the $10 jump in oil yesterday, is that there are others like me who were similarly fooled. Also, that I took some profits earlier.
BIG LESSON:
FILTER OUT THE NOISE. My initial target for WTIC was $122. I was going to sell my Puts until I read a transcript of some Money show on CNBC. All the pundits were sure Oil was going to keep falling. Yeah right.
I need to keep doing what I did this weekend. Read the best - the ones on my blog and perhaps the WSJ, and think uninterruptedly.
NOW:
1. Oil will go to $148.
2. Sell SU Puts on Monday and Tuesday. Buy SU Calls.
3. Buy DIA Puts - in stages.
4. Sell AAPL early Monday. Sit on cash. Wait and see.
5. Tech will lift us out of the funk.
6. Watch the IWM.
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