I’m Short Overnight

Home / Energy / I’m Short Overnight
April 12, 2010

I rolled my index cash to short, 2x NDX, 2x RUT at the close today.

I closed up my gold positions taking 5%+ in the DGP, and breakeven in HL, just for protection.
I closed my 2x and 3x Energy long positions REA, ERX, DBE, all for nice gains. I will be buying all of this back as long as the market doesn’t breakdown too badly this week. I don’t expect it to.

Bought QQQQ puts, IWM puts, SPY puts, QID, QID calls (really small position in case there is a surprise move that is bigger than expected), TZA.

I’m still long: ASTC, INSM, TSEM, PXLW, NENG, FSII, SCLN, AMAT calls (which will be worthless – this should’ve been a spread and it would’ve killed).

New buys SMED, AB

Sold CX calls and HAL calls both for commissions + very slight loss. I actually do have a little REA left as well.

The reason I went short was two fold. NASI has given me a warning and the VIX gave me a index sell signal today. At least 1 day. Probably more of a 2-3 day signal. Would not be surprised to see a red weekly candle on Friday. I’m expecting the worst part to happen tomorrow or Wednesday though and want to be a buyer of it.


Tags list