DELL topped out at $180 and is back to $130.  A move of some proportion.  My AAPL trade for Trading Desk was two days too early expiring but otherwise stunk.  One more week of duration and it is $1000 per 1 lot.  Oh well.

That leads me to my favorite adage, for DELL and the risk management rule I like/don’t like to break for AAPL.

Time to visit my old friends.

It is easy for stocks to go where they came from

That is something I have observed for 35 years trading stocks and options.  DELL was $180 and if this FOMC and CPI provide a catalyst, it could well race back up there.  Perfect setup for a strangle going into the FOMC with a shorter 5 day hold.

When you are wrong, get out

This was my problem with AAPL.  Not long ago, AAPL had no revenue growth and was surviving on financial engineering.  I did hedge with a call but was too aggressive when I was dead wrong on directions so my put spreads died.  I don’t like being down over 20% in a long premium trade and I should have listened to myself.  Over trading to the downside did not help either as the market laughed at me with AAPL rallying.  I will give up my AAPL going to $150 or lower for the short term.

Right now stocks want to go up, and recent highs could be in play for many names once the CPI and FOMC give the all clear sign today.

The market does the darndest things.