July update

Today was a little more like it in the day trading realm as it was a $350 day. This month has been very lack luster as the first week was a holiday week, the trading room had to do some paring of deadwood and the market is not moving very fast anywhere to enable quick trades to take place in the first hour.

I figure that anything over $500 this month is a bonus so I have no expectations for the rest of the month... that does not mean there will be no more profits than that, it just means that $500 or more is my target.

Why set an upper limit target?

My momentum trading is still set to take a large hit tomorrow as nothing is really moving in my favour. One option is actually in the money but I paid enough for it that the stock price would have to be a couple...or three... dollars ITM to be even break even. I just have to be sure to close any trade that is set to expire ITM as I do not want to get assigned a stock. In fact I think that I will contact Questrade and clarify if I need to close positions if I have no intention of taking the stock.

Jeff.