I have blown out of all my long positions but TTWO, even my beloved PCR position. I have seller's remorse; however, I don't like the tape and my gut tells me I can buy everything back cheaper.
I bought some FAZ today, simply because I think this run was nice but it is just about over. In addition, I want to protect my gains, so my cash position in the trading account is very high.
I might scale into SDS more and if we retest the lows, it can easily print $115. The market can go either way here, so I lean more to the short side, than the long side, and want to sit this one out.
Update II: Bought 25 more SDS @$90.30
Words of Wisdom: Bigger positions, use smaller stops. Smaller positions, use larger stops.
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RF:
ReplyDeleteGreat trading, I bought some SDS and SPY puts. Got anymore March option plays for the S&P?
This blog is great!
Craig,
ReplyDeleteThanks for the comment. I would keep an eye on the SSO puts. I covered my naked puts at $0.10 and now they are selling at $0.08. For a tight trade, I would buy the SSO $15 March Put for $0.08 and get a nice move. I might do this myself..
Good looking on SDS!
ReplyDeleteJ,
ReplyDeleteGot your e-mail, I game on the futures trade. Will discuss next week man.
RF