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.]


Anonymous said...


Here is another great link from people who get it. The Taxpayers Clearance House...

Anonymous said...

The rallying cry to ban short etf's, is it gaining steam??

Apparently Jim Cramer has been ranting about doing just this. Why does anyone listen to this moron anyway?

Anonymous said...

I'm feeling my oats. I have a limit order for fas at 2.75 but it hit $2.76 instead. kfell

CaptiousNut said...

I had my hand on the FAS trigger all day long.

Wimped out. Trying to patient and let the trades come to me.

If they ban shorting again on the financials....

After the pop, I'll sell every fat call I can get my hands on.