12:50pm (EST) Every now and then there comes a time where you just know how a stock reacts, what its support and resistance levels are, and if it is ready to resume an up or down trend.  Then, even after you had your alerts in place and a set limit price, you still don’t take the trade.  Of course, you made a “great” decision if the trade ends up going south but you tend to beat yourself up because you missed such a fantastic return. These things happen but don’t get carried away or feeling blue if you miss a trade or two.  It happens.  Still, it helps to vent, so I am going to vent.  Sometimes, I am stubborn to the point to where if I do miss an entry point, I don’t take the trade.  But, I’ve learned to get over it because there are always trades and there are always going to be trades in the future.  Having said all of that, here is one story concerning Exxon Mobil (XOM, $72.60, down $0.34). This “trade” was profiled outside the Members Area because I thought we had missed our entry price but I was wrong.  As you can see, Exxon has been on a roll for the last few weeks. From October 6th (1pm update): “One of the stocks we were watching was Exxon Mobil (XOM, $68.81, up $1.23) and I said I liked it at $66 on Friday.  The stock traded to a low of $66.11 on Monday and that would have been the perfect time to pull the trigger on the November 70 calls (XOMKN, $1.50, up $0.35) which are up nearly 40% today.” (END) From October 12th (12:40pm update): “Exxon Mobil (XOM, $70.25, up $0.98) has busted through $70 and I had mentioned that we missed a trade when the stock traded to a low of $66 last Monday.  I listed the November 70 calls (XOMKN, $1.85, up $0.35) outside of the Members Area because they were up 40% that day and I didn’t like the entry price of $1.50. Since it was sort of a “Free Trade”, I thought I would expand my thoughts on the subject.  There is resistance at $71-$72 for the stock and if you got in at $1.50, set stops there.  If Exxon can muster up some momentum then shares have a shot at $73-$74 where further resistance comes into play.  If the stock is at $73 by November 20th, the November 70’s are worth at least $3; at $74 they are worth $4…”  (END) Folks, Exxon is pushing $73 and the November 70 calls (XOMKN, $3.30, down $0.30) have easily doubled since those two updates… If you are still in, set stops at $3.00 to lock in a 100% return.  If Exxon continues higher, which it could, then raise stops along the way.  If you are not in this trade do not initiate new positions… The market is struggling like we thought it would today because of October expiration.  The Dow is currently down 100 points to 9,963.  The bulls have made it no secret they are trying to push this market higher.  The bears have been quite, what few are left, but they can still do damage. I’ll be back Sunday night/ Monday morning with the Weekly Wrap and trade updates.  The 2009 portfolio will updated after the close today and will available on the website over the weekend.]]>