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Thursday, August 7, 2008
Matt's Trade Log - 8/7/08
Two trades today:
The second trade was entering a new position - selling a vertical call spread on SPY. SPY looked this morning to be trading near resistance that has been pretty solid for some time. The only concern is that trading also seems to be consolidating near resistance which could be a precursor to a push through the resistance line. We'll have to watch and see.
- Buy 1 RIG AUG08 155 CALL
- Sell 5 SPY SEP08 131/132 vertical call spread
The second trade was entering a new position - selling a vertical call spread on SPY. SPY looked this morning to be trading near resistance that has been pretty solid for some time. The only concern is that trading also seems to be consolidating near resistance which could be a precursor to a push through the resistance line. We'll have to watch and see.
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