Kevin_in_GA
4,599 posts
msg #78454
- Remove message |
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.
|
karennma
8,057 posts
msg #78456
- Remove message |
9/1/2009 3:43:48 PM
Yow-wee!
S n'P broke 1000?
|
karennma
8,057 posts
msg #78459
- Remove message |
9/1/2009 3:53:40 PM
xxcheck:
Took profits.
OUT of short position.
Still long "C".
|
xxcheck
53 posts
msg #78460
- Remove message |
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....
|
Kevin_in_GA
4,599 posts
msg #78461
- Remove message |
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).
|
Kevin_in_GA
4,599 posts
msg #78462
- Remove message |
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.
|
Kevin_in_GA
4,599 posts
msg #78463
- Remove message |
9/1/2009 4:14:07 PM
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....
++++++++++++++++++++
Good - misery loves company!! Hopefully (sorry about that word, Chet) we'll be cashed out by Friday at a tidy little profit.
|
karennma
8,057 posts
msg #78467
- Remove message |
9/1/2009 8:00:05 PM
Kevin_in_GA
Kevin_in_GA 9/1/2009 4:10:52 PM
Smart - take the profits while they are there. I still think that tomorrow will be rough on FAS, though.
=============================================================================
Rough for FAS?
In what way?
|
Kevin_in_GA
4,599 posts
msg #78468
- Remove message |
9/1/2009 8:06:23 PM
I am expecting the Asian markets and Europe to follow US lead downward. The morning will be negative to start, and unless the employment numbers are REALLY good,this market will shrug them off and go down for one more day before rallying into the weekend.
My opinion only. I am, of course, still expecting ETFC to recover during all of this!
|
xxcheck
53 posts
msg #78470
- Remove message |
9/1/2009 8:41:31 PM
Ive had great success shorting FAS. Karen has Puts against it I blv.
|