Thank you Bear Stearns

I guess the important thing is to always see what is, rather than what we want to be. So with the nice market drop on the news of the BSC debacle (read crash, destruction, collapse) it seemed a good time to enter a few more FCX swings. The stock did not rebound as quickly as I expected, but I felt very confident I could add positions throughout the day.

+1o FCX 95 call @ 4.90 = $4924.95 (about 10 central time)
+1o FCX 95 call @ 4.00 = $4024.95 (about 12 central time)
+1o FCX 95 call @ 3.25 = $3274.95 (about 2 central time)
+1o FCX 95 call @ 2.75 = $2774.95 (about 3 central time or 15 min bfr close)

So yeah, I had a little invested. Point is, when you believe your position is correct I think you should back it up, and then learn the lesson either way.

Then today we have a nice gap up (I suppose thank you fed is in order, but thats just wrong):

-1o FCX 95 call @ 4.07 = $4045.05 (at open)
-1o FCX 95 call @ 4.10 = $4075.05 (at open)
-1o FCX 95 call @ 5.00 = $4975.05 (about 10 central time)

The final 10 contracts I decided to hold until open tomorrow. I feel that my line is correct and even though I am sitting at a 15% gain at the moment it seems wise to hold until tomorrow. That is all for now, good luck all.