Wednesday Trading
Phantasmix November 20th, 2008
Sold my longs (AAPL, X, SOL) in pre-market, thankfully, got the best prices of the day (seriously, getting up at 8am does pay sometimes), then shorted a bunch of stuff at open, including ex-longs.
Today I traded: AAPL, AMZN, BIDU, COF, EEV, FSLR, GE, MA, MET, UYG, X, SSO, SDS, SPG. I even went long a couple of times via shorting SDS. It was a good trading market.
I made a nice amount (steak, triple-crème brie, chocolate cake and Amarone worthy amount)… however it goes straight into “The Dishonorable EEV Suck Fund“. I’m still about $10K in the red for the month, but it’s getting better every day.
Now that 755 has been breached on the SPX and a lot of people will get margin calls, we can wade around these low levels for a few days. Time to think about longs (for next week).
Overnight, holding long (EEV: 46.07 -2.66%), short (FSLR: 157.80 +4.16%), (SDS: 66.51 -0.09%), (AAPL: 94.58 +4.22%), and (BIDU: 137.84 +1.79%) — in the green, except EEV and SDS.
If you’re having a bad day — here’s something for you:
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That’s my drug of choice tonight!
I thought you were short?!
Fukitol is for bulls only today, they truly need it.
lol —- yeah I was short T-Bills which sky rocketed today - of all the f’n things to be short today!
On the break down I think I got so pissed that the whole thing was collapsing that I couldn’t bring myself to put on my short ETF’s - I really thought they would try and recapture that 775 level at the close.
Now I will have to put some on, even though I am getting really depressed about what this is doing to real people and what it means for the future.
Need a drink.
Why did you short T-Bills? you were sure the stocks would go up?
Yeah, these levels are just too incredible. A lot of reasonable people are sidelined thinking it’s too late to short. Well, if you think it’s too early to go long - then it’s not too late to short. And vice versa
Real people are doing ok so far, but I’m not sure about near future. I think February and March will be worse than November. But that’s like a zillion light years away.
Short bias until next week. Pops are to be sold until next week.
Good luck tomorrow!