closing MS trade…taking full profits

we just closed our bucket 2 long in MS…taking full profits after taking half off on oct 19th:

Closed the second half and rest of MS long at $17.10…

We are at the top of the range and options expiration is squeezing the tape.  Upside is limited and downside on MS may have room to $14 if CDS buyers again hit the banks in following weeks…credit widening could move to the u.s. very quickly.  Risk/reward and general risk mgmt dictates we take full profits in MS while we can.

 

Watch More:

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Serge’s Daily Trading Tips

Subscribe now and get clear, actionable, and relevant trade ideas!

By giving your contact info you agree to receive future emails from The Steady Trader including educational and promotional content. By providing your mobile phone number and clicking on the above “Subscribe” button, you agree to receive automated promotional messages from us via SMS. By opting into our SMS Program, you agree to our Terms and Conditions and Privacy Policy.