Last few days, lot of things happened in the market! VIX hit 42 today before closed down at 33.
- I sold some WNR and bought some XLF close to the low of the day.
- I bought some MS, just bet they'd survive, and when it dived to 11.7, I almost wanted to take the money back. When it quickly bounced, I added a little more. Then, when the news came out, it's a 4% jump in general market and MS finished in green! Now, I wish I would be a little brave and buy more. But, what do I know, I could get killed like LEH holder. It's purely speculative play, small is good!
- And looks like SEC will ban short sellers for some time, maybe until election? I think that's good for the market, since we're on the verge of total collapse. But I prefer "up tick" rule over banning short selling, and naked short should be banned. But short should be legal and shorts keep companies honest!
- On the other hand, last time I checked, WNR has 31% short and TSO has 20%. These heavily shorted stocks should do well in this environment. Since TSO and WNR are more than 70% off high, they may have a strong bounce.
- I hope this rally will last, but be careful out there and don't be greedy.
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