- Sold SRS a day too early, but in great profit, no complain there.
- Sold qqqq puts for a profit. Timing were not great. Move on.
- Next week, hope for a strong bounce and rally to add shorts back, I will wait until Tuesday, better one day after xTrends since they were early recently. And follow Erik. I think he may go long on FAS/XLF etc.
- I think it's risky to play both side, so I'll sit out long, and wait time to enter shorts.
- From now on, no posts in xTrends in work. Just follow them.
- Short targets:
- AZO, it's a overvalued story, and it has debts. Wait three days, since Tuesday morning or Monday if it passes 150, add 1 unit.
- GDX, if dollar crashes and gold up, GDX may pop again, wait a few days, after Tuesday, maybe later in the week, when gold breaks out again.
- SRS. This is THE story of the year, it's safer than SKF since just like tonight, the C news can gap up market, and XLF can go up 10% and FAZ down 30% in one day. May go to extreme. If Erik likes XLF, I think I will enter a FAZ puts in the 20s like $500 total. May not worth it though. I can envision a 75% drop in FAZ in one day! Also, enter SRS slowly, I think I'll choose the July puts again, use 45 ot 50, just to be safe, when it's in the 50s for sure. Won't enter tomorrow, I'll give the market a few days to rally, first is at 800, then 850. It could go to 40s in three days or this week, that will be all I need to jump in with both hand.
Sunday, February 22, 2009
All in cash
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