Thursday, March 05, 2009
Cashing In Early
Posting was light last night due to a last minute *call to the bar*.
As I said I would, I took off my QQQQ short early this morning. I bought it back at 26.86.
Yesterday I had shorted it at 27.12 and 27.47 - and I didn't feel too good about the position.
I'm waiting for a big move in the market. If it drops like a stone, I'll get long. Another rally like yesterday, and I'll gladly sell into it. It's time to step away for a bit and not get caught doing anything stupid.
[On a GE rally, I'll look to sell some calls against my now decent-sized long.]