Thursday, September 23, 2010

Bookkeeping: Sold Spy Calls

Oh what a wonderful day.  I just wanted to confirm my thought process that the moment I went index long the market would mock me by finally relenting.  Confirmed.

As I said I would happily take losses just to get this market to crack a little so consider it a sacrifice for the masses.  You're welcome.

I have sold the SPY calls for a loss.  The logical thing to do would be to get back short as the SP is back under 1131.  However the minute I would do that the SP500 would rally into the close to get back over  1133 at which time I would cover my SPY index short positions for yet another loss.  Because it is just evil like that.

Well I have nothing witty to say to this monster of a market that made a mockery of sense.  I will stick to individual equities at this moment.  If the SP falls below 1116 I will try the gap fill game...otherwise I believe the market will just steal money from my pocket.

No positions


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