Went Short, Bush’ Speech Didn’t Sound Encouraging

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September 24, 2008

I decided to put an index short on at the close in both the RUT and NDX. I’m looking for an extra volatile day tomorrow starting with, hopefully, a gap open lower and then a move lower after that. However, by the end of the day maybe a hammer candlestick. As long as I get my money in the morning I’m happy. Remember my comments on AAPL.

I sold ACI for around a 1% loss. I know I bought it today, but I sold it near the close because I’m just afraid of holding almost anything and I feel like I was forcing the trade. I will keep ACI on my watchlist.

CALM – I sold this today simply because I’m fearful that the market is going tomorrow and that CALM has a gap to fill on the downside.

ABT – Still holding it.

EXM – Still holding it.


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  • Sia

    I thought Bush speech was fine, futures are up.

  • http://www.stockrake.com StockRake

    Yep. Seemed like it would induce fear to the avg investor and then the run on the Hong Kong bank overnight, and then the GE warning this morning, plus the jobs report this morning, I figured it wouldn't be a great morning. I'm wrong so far.

    Signing this legislation might cause a selloff on the news then.

  • http://www.stockrake.com StockRake

    Bought EWZ

  • http://www.stockrake.com StockRake

    Yep. Seemed like it would induce fear to the avg investor and then the run on the Hong Kong bank overnight, and then the GE warning this morning, plus the durable goods report this morning, I figured it wouldn't be a great morning to be short. I'm wrong so far.

    Signing this legislation might cause a selloff on the news then.

  • http://www.stockrake.com StockRake

    Bought EWZ @ 61.27

    ps great sell on ACI yesterday….down another 4-5% right now. Cut the losses quickly.