Tuesday, February 24, 2009
Intraday Trades - Feb 24th, 2009
This morning I bought some SRS at 77.00 and was going to post my *buy* to the blog but sold it too quickly. I released it at 83.01 only 22 minutes later.
Just now I made my first trade on that FAZ, the triple short financials ETF. I bought a little at 64.45. I'm looking for just a few points.
With 2 hours left in the trading day, the market has the feel of one of those *up 400 points reversal days.* So I'm going to hold off any new shorts until 4pm or so.
What could possibly happen tomorrow to make stock investors eager to buy?
UPDATE - At 3:33pm I couldn't help myself. Doubled the FAZ position at 57.87 and I bought some SRS at 69.45. I just couldn't wait until 4pm!
Posted by CaptiousNut at 1:59 PM
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whats your exit price on faz today?
I'm struggling with that decision right now as I am about to depart for a few hours.
Alright I sold half (the second buy?) at 61.00.
Going to let the rest ride.
Will put in an offer to sell it at 71.
And will put in a bid to buy more FAZ at 50.
i have exit price at 62. I think Nancy Pelosi last night has contributed at least 50% of the gains today...
And I sold that SRS I bought yesterday at 74.00.
I have plenty left.
I wish I could sit here all day....probably going to be some good trading.
got out at $62.68 with a breakeven at $57.10. just don't have time to watch it today either. Someone sent me this quote today...
"You cannot legislate the poor into freedom by legislating the wealthy out of freedom. What one person receives without working for, another person must work for without receiving. The government cannot give to anybody anything that the government does not first take from somebody else. When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work because somebody else is going to get what they work for, that my dear friend, is about the end of any nation. You cannot multiply wealth by dividing it."
Dr. Adrian Rogers, 1931-2005
more on FAZ here:
seems like word is out on this bad larry.
Followed ur lead and got a limit filled at 50 and resold it 12 minutes later at 56.18. Obama announced raising taxes on upper incomes after market so it is going to fly. oh well. pigs get slaughter...
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