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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Thursday, September 23, 2010
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Best Of FMMF
- Blogroll
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows