Shut Up and Take The Profit

Home / Market Comments / Shut Up and Take The Profit
April 21, 2006

I posted about 27%+ gain in the SMH calls yesterday morning only to see that gain disolve by the close. Today we are having a nice downmove putting the NDX, based on my system, on a sell signal. With todays downmove came a 2%+ negative move in the SOX and the SMH. So instead of that 27%+ gain, I’m sitting on a larger loss than yesterday.

Might drop the calls here, not sure. Definitely going short in Rydex at these price levels. If it bounces significantly into the close, it might negate the sell signal.