BAC Put Entry
Buying 80 Mar 12 puts on BAC for .80. This is a $6,400 trade which gives me an invested value of just over $17,000. With about $10,000 left in cash I am willing to take the risk that the dollar and bond signals are predicting another wave lower in the market. BAC is under the 7 day moving average and I will look to use that as my stopping point.
Please note, I am making these trades on FDX, CAT, and BAC with gains I have already accumulated. My initial investment of $3,000 is already safely in my pocket. I know there are several new followers to my trades and I caution to understand the scope of this $3000-$100,000 challenge. For those that want to jump in mid stream, its your choice, but also understand that I will be doing this again in the near future with the initial $3,000.