Ask Yourself Punk, Do I Feel Lucky

It is Friday the 13th so there is a lot of talk of superstition. Good luck, bad luck. These should not be part of trading decisions. But whether you admit it or not some of your success is caused by luck. Yes you did the homework and got yourself int the right position at the right time. But the part about the trade not fizzling is often luck. Look at the chart for Google (ticker: $GOOG) below.

It has traded in a very tight range between the 532.72 and just over the 541.21 Fibonacci levels since April 26th. Does it have one more day in it? If you think so then the May 13 535 Straddle may interest you. Sell it quick on the open near the closing price last night at $4.10 and trade the pieces if necessary. The question you have to ask yourself is, Do I Feel Lucky.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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