So, not only did we get a huge move up today- up 125 points, but we gapped above the 50 – a bullish sign. Covered my shorts when we were up 67 points, since we gapped above the 50, which is different than breaking above the 50. So obviously a good day for the portfolio but, it feels sort…
Burned 6 commissions today! It is very difficult to find the perfect blend of instruments to hedge a portfolio. After selling the puts for a loss of 500, using the leftover money to buy puts with a closer delta, and buying the vix, I came up empty and also lost another 100 in the darn…
Market closed in positive territory for the week. While I think we might be putting in a bottom here, having 65% of the portfolio invested is a bit overweight considering that the market is not out of the woods yet and Greece is having elections over the weekend. As Jim Cramer put it, “while we…
The markets are trying to churn out a base- a W shaped bottom- is what it looks like. While I am not believing this is the bottom, we are doing some constructive things. We successfully reversed and held on the 200 (with a bullish engulfing pattern), held the 20 yesterday which is a nice short-term…
Closed out my weekly put on the sell-off yesterday.
Ok, the road to riches definitely has not begun yet. This is a tough environment to invest in people. But with that being said, we are only down 10 percent year-to-date. Why? Because, no one could have foreseen the magnitude of this “pullback”. Well, it depends on what camp you were in. Did you think- ah nevermind don’t…
So, now you see that we have held the 1307 level. It was definitely the key level for today, and we have moved to the upside as a result of the technical support. I sold out of spxu (dumb I panicked) at my break even point. Now, I am experimenting with weekly SPY options instead. (Trying these out…
Will not short until we break 1267. 1307 is the intraday support, which I have bought extremely cheap weekly options for as added insurance. I will close those puts though at the end of the day, so that time decay does not become a factor. More to follow.
Another shitty day in the market. Spain is still a mystery and traders seem to be selling any rally today. Bought spxu instead of a put so that I don’t have to deal with time decay because, this is getting frustrating- trying to time the market. -Regards
The markets opened up positively on Friday- positive meaning we are down only 20-50 points, a stable pullback. Because, with the moves we have been getting daily on the Dow, 100- 150 points had become the norm. This is actually what happens if you pay attention to the vix (amount of put buying). When it…
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