Tuesday, January 27, 2009

Pure stupid

I followed xTrends and closed my TNA at 25.02. It closed at 25.7 and afterhour, it's 26.4. That's 500 shares!
  1. And I sold SRS puts, 55 at 6.1. It closed at 58.6 and afterhour dropped to 55.9. Fuck. This time, my OTM puts may kick my ass!
  2. And bought SPY 83 and IWM 43 puts. WTF.
  3. The only good thing about the above, I have enough cash and these puts total about 2.8K. But SRS tied up 11K.
  4. The correct way to do this, even in xtrends' multiple short posts, should be closing half TNA, even close them all. Should wait another day to enter shorts.
  5. Now I have two chances to enter short, tomorrow AM, fade and sell quickly.
  6. Or wait until this 10% move is done and over.
  7. So the ideal play is, when market fades back from up 2-3% to only up 1%, close the shorts. And the market may continue to rise for another 10% this week and next.
  8. Enter shorts and puts again before next week's big announcement.
  9. If we rally into next week, it's likely to have a selloff after the announcement.
  10. Anyway, now I think SRS may hit low 40s and SPY to 96.
  11. That will be a good place to short.
  12. Another thing to do, just sit tight and let them wipe my ass!
  13. It has a small chance to break 850 to 870, even 890, then sell off next week after the packages, back to low 80s, even test 750 in Feb.
blog comments powered by Disqus