Monday, July 09, 2007

The Dow Jones Industrials Are Approaching The Year High



I got long the DIAs today on the open based on my observation that money tends to come into the stock market the 2nd week of the month.

As you can see in the above chart the Dow Jones Industrials are approaching the year high which is also the all time high. I'm hoping for a breakout here folks.

I will exit the trade this Friday on the close and my protective stop is right below 135.

5 comments:

V said...

Hi Kevin,

Did you buy DIA stock or options, that you will exit this friday? If options I am guessing July calls, what strike price?

Thanks.

Kevin said...

Hi,

I didn't buy the options, I bought DIA stock.. The percentage return obviously will be better with the options if the trade works out.

JS said...

You mean the low of Tue, since Wed was July 4. Or are you referring to the previous Wed?

Kevin said...

my stop is right below 135..

Lawrence Chiu said...

Just wondering if you got stopped out today on DIA. Thanks!

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