Cashed In Longs

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October 10, 2007

I didn’t mention it, but I cashed my SPX long from yesterday at this mornings pricing. Its looking like it was a good move right now as the SPX is 2 pts lower than the 10:45 open that Rydex uses to calculate its morning price. The Dow on the other hand is dropping like a rock with the RUT catching up. Either way I ate nearly a 1% loss again.

I was right about potential for the whipsaw.

Sia was right about just holding onto my shorts from the 9th to the 10th.

These past two days were small screwups that attributed to small loses, but could’ve been big gains.

On October 8th I was already short going into the morning of October 9th. I flipped my position from SPX/NDX/RUT to shorting NDX/RUT. Well the SPX ended up more than 1% and I ended down less than 1%.

Sia was right that I should’ve held onto my shorts.


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  • Sia

    Why is it so easy to make money on the shippers? DRYS is crazy of course, and somehow I managed to buy GNK at 67.4 today. Oh btw, Im also jsssm on suckmynasdaq chat. We talked a little before and thats how I got your blog. Good luck trading!

  • Sia

    Why is it so easy to make money on the shippers? DRYS is crazy of course, and somehow I managed to buy GNK at 67.4 today. Oh btw, Im also jsssm on suckmynasdaq chat. We talked a little before and thats how I got your blog. Good luck trading!

  • http://www.stockrake.com Sensei

    Thats where the money is being made right now. I had EXM and DRYS below 20…so sad.

    QMAR keeps upping, I recently sold that one thinking it was ready for a pullback. Now I’m interested in ESEA. A new one I just found that looks hot.

  • http://www.stockrake.com Sensei

    Thats where the money is being made right now. I had EXM and DRYS below 20…so sad.

    QMAR keeps upping, I recently sold that one thinking it was ready for a pullback. Now I’m interested in ESEA. A new one I just found that looks hot.