I’ve Been Heavily Short Since Last Wednesday

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October 26, 2009

Like the title says. I’ve been adding to shorts along the way particularly on the Friday morning up day that turned into a reversal. 100% short with the 2x funds. Avg gain of around 2% today and from Wednesday, I’m not sure, but in the neighborhood of 5%ish.

Today was a wild day for my accounts. I made one mistake today by selling my EWZ puts on the open. I looked at the charts and decided this isn’t the best trade I can make. I sold out for breakeven on my EWZ position. I waited until the SPX got to 1088 and loaded into SSO puts and kept adding to other inverse positions like FAZ, SKF.

spxset

Check my twitter account for today’s tweets, but you have look back by clicking more.

Once I realized what was happening in the morning window according to my levels I decided to hold everything. Everything = FAZ calls, SRS calls, SDS calls, and TZA. Then I saw the level 1087.68 on the SPX break and I loaded up into Nov 36 SSO puts. I then sold these an hour later.

ssoputs1

ssoputs2



  • redvetttes

    Nice site,
    I was going to ask you about a target on your EWZ puts but you sold them.
    does GDP on thurday scare you of being short,thinking taking my profit 10-12% in 4 days on Wednesday.its do for a bounce don't know long it will last also end of month mark-up.
    holding SRS,TZA EDZ BZQ shares

  • http://www.stockrake.com StockRake

    Yep I was right in buying them on the premise that EWZ would have a nice correction, but made a poorly executed trade in selling early.

    I had quite a nice selection of the Nov 71,73 and Dec 75 puts. The move that has happened with EWZ was the move I was playing for.

    Nope nothing to do with GDP. EWZ reached the 21dema today, it could bounce here.

  • redvetttes

    Nice site,
    I was going to ask you about a target on your EWZ puts but you sold them.
    does GDP on thurday scare you of being short,thinking taking my profit 10-12% in 4 days on Wednesday.its do for a bounce don't know long it will last also end of month mark-up.
    holding SRS,TZA EDZ BZQ shares

  • http://www.stockrake.com StockRake

    Yep I was right in buying them on the premise that EWZ would have a nice correction, but made a poorly executed trade in selling early.

    I had quite a nice selection of the Nov 71,73 and Dec 75 puts. The move that has happened with EWZ was the move I was playing for.

    Nope nothing to do with GDP. EWZ reached the 21dema today, it could bounce here.