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A week that was fantastic that is.

I had positioned for the biggest drops and avoided the melt ups. No I did not catch every day this week, but who did? Who didn’t get hit at least once this week? I had no major hits and protected the football (aka the big $).

I made a couple of little diddly trades today with the TWM and the FLR calls. The FLR calls were probably the stupidest trade I’ve made in awhile. I make it point to never buy calls or puts (starting now) near OpEX. I took a 16% loss in the FLR calls trade. They were way expensive and I should have known better.

Is this the bottom or just a tradeable bottom? I want to see what pans out after the dust settles. I had some very nice trades this week enough to live off for the entire year and could quit right here and destroy every hedge fund’s performance on a year over year basis, but I’m not stopping.

However, I’m not going to force anything either. Pete Najarian mentioned that the VIX is still in the 30s and it represents fear. If next week starts out roaring again, I’m likely going to short it. Nothing goes straight up, but I do feel this has all the makings of causing a year end rally. Moreover, there will be some backing and filling.

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