Sunday, February 22, 2009

All in cash

  1. Sold SRS a day too early, but in great profit, no complain there.
  2. Sold qqqq puts for a profit. Timing were not great. Move on.
  3. 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.
  4. I think it's risky to play both side, so I'll sit out long, and wait time to enter shorts.
  5. From now on, no posts in xTrends in work. Just follow them.
  6. Short targets:
  7. 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.
  8. 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.
  9. 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.
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