wild swings

So 3 hours later the dow is down 125. For some reason I wasn't feeling RIMM and I let that sucker go for a loss (12 @ 0.83). I think I got a lil panicky and wanted to limit my losses, but I am right so far as RIMM continues downwards.

Good thing is financials continue to drop (maybe from the shitty news from WB?) Either way I just went through a 3k swing (being down 800ish earlier to being up 2k right now). Thats pretty damn huge considering my costs basis for the options im playing now is only around 7k. Just glad I'm up.

Right now, I'm just going to hold it a little bit longer, perhaps even selling later in the day if my puts go up another few hundred bux.

A fight takes place

The market is up about 75 points as I'm writing this, yet financials continue to be, well, pretty shitty. I'm sure the up market today is not causing the financials to drop. They were in fact up quite a bit in the morning. I'm getting upset at the fact that I'm actually losing a slight amount in my financial puts even though they are all down right now, because they had been up in the morning and my options were getting killed. Financials look "cheap"

RIMM is up 3 bux, so I'm almost back even. It just needs to a huge run a la AAPL, but I guess there is only one G3 iphone coming out July 11th.

As for the start of the earnings season, AA looked really low this morning, but now it's already up quite a bit. Still I expect it go up another buck or so after earnings

I love my blackberry...

RIMM is ridiculously successful with their blackberry phones, and they've been getting killed since their earnings. Looks like there is support around the 112 mark. I guess I got in a little too early (JUL $125 Call, 12 @ 1.75) - RIMM's stock was around $116 - the previous support, and I'm down about 30% in the play. RIMM did go up after hour, so hopefully I'll get it back on Monday.