I Told You This Rally Could Happen To The Number, Last Friday

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November 5, 2009

Posted last Friday:

Posted Monday:

Now this is the way it looks today:
spxtoday

Now I’m short via my index 2x funds $NDX, $SPX, $RUT, SSO Dec 34 puts, TZA Jan 15 calls, TZA Dec 14 calls, and long TZA as well. I’ll be getting some FAZ, DRV, and various other inverse funds. If topside resistance breaks I’ll look to cover, but I don’t see it happening.

Louise Yamada on Fast Money mentioned several divergences on different indicators and talked about the market looking to correct underneath the surface. I don’t look at anything she looks at, yet we are both seeing technical deterioration underneath the surface.

I’m long MCO DEC 23 puts and Jan 22.5 puts
mco

25% gain in BCRX calls. Unfortunately for me I executed the trade poorly this morning in BCRX. Some would say, hey you caught the trade the day before and made money that is all that matters. Not to me. I’m looking to get better.
bcrx2


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