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Happy November!

Being long sucked. The market was relentless. The RUT was down 3.93% double it and its close to 8% loss for the 2x funds.  Nasdaq held up relatively well in comparison to every other index. SPX nosedived as well as the Dow. I have a feeling todays action is the real move, but just for the short term, then the up move resumes, but we’ll see what the charts say by the close of tomorrow.

AXP – Nice loss on the calls – 53%.

CBST – Forgot I even had these. I should’ve sold them when I dumped a portion of my CBST common.

Pretty much every stock I have was down today except for AZK.

I’m happy with what I bought today and what I sold. I still remain long the indexes. It was a tough choice whether or not to flip to the short side on the indexes, but I chose to hang in there to see what tomorrow brings.

SWIM – I missed out on this trade, but I’ve been talking to Promethyl for the last few days talking up SWIM and to remind me to buy the Nov 15s. He reminded me and I didn’t act. The market today scared me enough to forget about making the trade. I thought that anyone coming out with earnings tonight might not be received well.
Bottom line is that SWIM reported a blowout quarter tonight. I knew they would crush numbers. The Nov 15′s closed out at .60 cents and based on where the bid/ask is now afterhours those options will open up over 100% gain or close to it tomorrow. Maybe even more if the market puts in a bounce. This was like the CEDC trade yesterday.

Onward and upward for the next trade.

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