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Members Trade Alert: $OSTK Sold Our March Options for a 120% Gain.

BotTrigger Trade Alert - $OSTK Sold our March 20 Strike Calls @ $26.40 for a 120% gain since our $12 entry. Entire allocation of the call.

We are electing to hold our common stock position however as a hedge that this may continue to run higher. In the near-term however, we expect a pullback as we're seeing 2 back to back selling bars here. Today OSTK opened the day @ $44.50...ran up to $46.35 and now is below it's opening price. This is looking more like a bearish inverse hammer candle bar. That along with Friday's big bear candle bar...suggest that we could easily see a near term pullback. If OSTK takes off without us up here...then that's why we have our common stock position. The option calls however are up more than 120% and so we're going to take that money and say thank you. We can always reenter even if that means higher on the next relative pullback. Know when to not overstay your welcome

Some of the greatest pearls shared by Jesse Livermore:

“Money is made by sitting, not trading.”

“The desire for constant action irrespective of underlying conditions is responsible for many losses in Wall Street even among the professionals, who feel that they must take home some money everyday, as though they were working for regular wages.”

“Buy right, sit tight.”

“Nobody can catch all the fluctuations.”

“There is a time for all things, but I didn’t know it. And that is precisely what beats so many men in Wall Street who are very far from being in the main sucker class. There is the plain fool, who does the wrong thing at all times everywhere, but there is the Wall Street fool, who thinks he must trade all the time. Not many can always have adequate reasons for buying and selling stocks daily – or sufficient knowledge to make his play an intelligent play.”

“It takes time to make money.”

“Don’t give me timing, give me time.”

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