Did nothing today outside of add some FAZ to my retirement account at 18.24.
In fact I have yet to even look at my (big) account to assess the total damage from yesterday.
I've decided to repeal mark-to-market accounting for my personal account!
What's good for the goose is good for the gander....
5 comments:
Adding FAZ at 18.24 was an unbelievable trade given that the NYSE reports that its low today was 18.25
Hah!
Tried to post that one off memory. Believe me I was not watching today. Too painful on the stomach.
Just checked - I bid 18.30 and got filled there.
For some reason I had it in my head that I got filled .06 cheaper. Usually when I bid on this crazy ticker I put a limit .10 or so above the last sale that I see. And usually I get filled a bit better.
I've gotten the absolute bottom before - it really ain't so hard when you average down as often as I do.
:(
Cap, why don't you sell covered call ? I bought faz at 45. Lost half of my portfolio but covered calls help.
Agree with your analysis about Faz decay.
I would use covered calls on a longer term investments only.
Though I may end up holding this FAZ for a while, it was not deliberate by any means.
With this ticker in particular, I'd rather be in, out quickly, and then back in on a dip.
I own some Dell; and have covered the position twice in the last several months.
http://www.youtube.com/watch?v=94lW6Y4tBXs
Check this out.
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