http://www.stockrake.com

Well being 100% short you can imagine it was a good day for me. You would be right. I covered my index funds and all my other shorts pretty much within the first hour and a half. I took in an average gain of 5.8% in RUT, NDX, and SPX. I also took nice gains in the overnight trades of EBAY puts, SBUX puts, and IYR puts.

I didn’t stay short all day though because the gains were great. Why risk it? The indexes closed down an extra 2%.

I got long a few stocks via calls. They are on the small side In terms of risk. I am long LCC calls. Practically every airline made my oversold list today. I also got long AMR calls as well. The third stock I got long was M Macys via calls. I had a lot of daily oversold signals on every index and over 290 stocks. These I thought had the best upside. Other names that I was considering were swapping to long side on SBUX and EBAY, CIEN, MRVL, QQQQ, and of course many others.