xxcheck
53 posts
msg #78450
- Ignore xxcheck |
9/1/2009 2:55:21 PM
I take it you sold your long position then preparing for the bear attact
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karennma
8,057 posts
msg #78451
- Ignore karennma |
9/1/2009 2:56:53 PM
Kevin:
IF the financials drop another 3 days, a very cheap hedge against your EFTC would be XLF puts.
The Sep $15 puts were dirt cheap this morning ... only .60. Now 1.12.
Still cheap ... and VERY profitable!
:>)
$$$
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karennma
8,057 posts
msg #78452
- Ignore karennma |
9/1/2009 3:05:36 PM
xxcheck
xxcheck 9/1/2009 2:55:21 PM
I take it you sold your long position then preparing for the bear attact.
=========================================================
NO, I didn't sell my long position..
I have a spread ... I'm short financials, and long C.
The month is young. Today is only 9-1-09.
We've got 2.5 wks. to options expiration ... plenty of time for me to cash in on BOTH sides.
The market could go DOWN, and then UP later.
(See M4M's post: "How I made MILLIONS on BAC calls")
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karennma
8,057 posts
msg #78453
- Ignore karennma |
9/1/2009 3:08:30 PM
xxcheck:
In fact, M4M just posted his rec. on the Filter Forum.
He's going back into BAC.
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Kevin_in_GA
4,599 posts
msg #78454
- Ignore Kevin_in_GA |
9/1/2009 3:17:42 PM
Kevin:
IF the financials drop another 3 days, a very cheap hedge against your EFTC would be XLF puts.
The Sep $15 puts were dirt cheap this morning ... only .60. Now 1.12.
Still cheap ... and VERY profitable!
:>)
+++++++++++++++++++++++++++++++++++++++++
No can do - options trading not permitted within my 401k account. Nice idea, though.
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karennma
8,057 posts
msg #78456
- Ignore karennma |
9/1/2009 3:43:48 PM
Yow-wee!
S n'P broke 1000?
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karennma
8,057 posts
msg #78459
- Ignore karennma |
9/1/2009 3:53:40 PM
xxcheck:
Took profits.
OUT of short position.
Still long "C".
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xxcheck
53 posts
msg #78460
- Ignore xxcheck |
9/1/2009 4:04:47 PM
Excellent Karen good job. Wish I understood Options more or I'd be in that BAC trade to hedge my Etrade purchase. Im hanging in there with Kevin. I violated my stop loss rule. Not sure why I did in this case. I have no explanation. So im in there with you Kev....
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Kevin_in_GA
4,599 posts
msg #78461
- Ignore Kevin_in_GA |
9/1/2009 4:09:15 PM
karen:
I assumed that you were out of everything by the end of the day.
I have been in DXD, SDS, QID, MZZ, and DTO for about the last two weeks. Painful at times, but I felt that the big corrections would be coming soon.
Got out of DTO today at a 4.5% profit - nothing to brag about, and I should have waited a bit to catch the last few drips. Still in the others, which helped to cushion the beating I took on ETFC this morning.
I'm expecting a panic sell off tomorrow in the morning, even if the data tomorrow is positive (like today's was).
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Kevin_in_GA
4,599 posts
msg #78462
- Ignore Kevin_in_GA |
9/1/2009 4:10:52 PM
karennma
9/1/2009 3:53:40 PM
xxcheck:
Took profits.
OUT of short position.
Still long "C".
+++++++++++++++++++++
Smart - take the profits while they are there. I still think that tomorrow will be rough on FAS, though.
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