Thursday, February 4, 2010

Wow, 3% Loss - It's Feeling All 2008 Again

Fun fun fun, til your (sugar) daddy takes your Quantitative Easing away.

I will be selling 75%s of both puts into the close since it's such a bad close.  That does not mean I think the market will open up first thing tomorrow; I simply cannot turn away such gains in less than 7-8 hrs.  These SPY puts will be up 50%+ unless the market reverses in the last 3 minutes ;)

I don't look at the Dow Jones much at all, I admit it - since its such a narrow index (30 stocks) but the 10,000 mark means a lot psychologically.  I still remember the "New Year's" type hats CNBC broke out when we first crossed over in 1999.

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