Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pezz who wrote (55887)	11/16/2004 1:08:21 PM
From: TobagoJack	Read Replies (3) of 74559

Hello Pezz, Tonight's Report: (a) I surrendered all of my long Put positions (housing, FNM, QQQ), unable to suffer the time decay of such instruments. No, I do not need to tally, for I know the losses are enormous, both percentage-wise and psychology-foolish. But no more pain from a death of one thousand nibbles, one minute at a time. (b) I also closed out my MDY and QQQ short positions, choosing to take the loss rather than be run over by December/January. (c) The directed shorted housing positions remain so, to be reinforced in good time, and hopefully the best time. YTD gain on overall portfolio is 10.57%, and so it is as good time as any to recognize some losses and appreciate what remains after the recognition. Chugs, Jay

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