I Can't Get No Satisfaction - 7/19/07

Today's call was based on the recent pattern experienced on 7/12. We were due for a rally. We had a rally. I got in at not a great price point of 1560.50. I was on-side for up to 3.5pts, and then by the end of the day, GOOG reported disappointing earnings, and I gave it up and took a loss by selling at 1557.75.

Basically, it was a crappy day. Slow service, awful food, and such small portions.

LESSON: Instead of ONE price point, spread orders out using 2-3 pt spreads. If you have a bad entry, then you need to exit with a smaller profit.