Category: Dr. Duke's Blog
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To my surprise, the market shrugged off GM's bankruptcy and soared upward from the open this morning. So I was forced to close my iron butterfly before I lost all of the gains we had built over the past couple of weeks. I closed the trade for $20.31 as RUT was passing $513 on the way up. This resulted in a net gain of $1,470 or 6.3%. It was disappointing to give up a portion of the profits we had last week, but the key is to follow your rules and get out when you said you would - don't second guess yourself; follow the rules.