Covered 4 MFC 11JAN Puts 14.00.MX @ 0.45, Mark 14.80, Loss -2.3%

The S&P500 is filling its gap from that big up move on November 4. EUR/USD is bouncing off a long term support around 1.3600. Thus I'm covering my short in Manulife Financial (MFC.TO) before the weekend. This position turned out horribly. I've been waiting for MFC.TO to print 14.50, just above its 38.6% Fibonacci retracement level at 14.40 on the recent spike. But 14.80 doesn't seem to budge even today with all that bearishness floating around. Intraday volume is also decreasing on every new test of this intraday support. So I'm throwing in the towel here. Loss is (\$0.45 - \$0.93) * 4 * 100 = -\$192 - \$27.90 = -\$219.90 = -2.3% of account.

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