Shorting SPY for fun and profit. Message Board

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Strategies & Market Trends : Shorting SPY for fun and profit.

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To: Pancho Villa who wrote (98)	11/23/1997 8:30:00 PM
From: studdog	Read Replies (2) of 346

To all: Thought I would give an update of my experience to date with shorting SPY as a hedge as I outlined when I started this thread. Well it has been better in theory than in practice. I did really cushion myself in the down side, but on the upside I'm afraid that the S&P has outperformed the longs that I have so I did not remain flat, but rather went down some as the market went up. In retrospect, MDY would have been a better choice for me as my stocks are primarily in that sector. Anyway, I plan on keeping my shorts as I do not like the market much right now and have not been able to be much of a stock picker. So I will stay as flat as possible without having to sell my long holdings. It might actually be better for me to be in cash but the tax consequences of selling just seem too onerous. If I have a loss in my SPY shorts at the end of the year I will probably take them and switch into MDY. If the market really tanks or prospects seem clearer, than I may go long SPY. Hope this is useful to some. Karl

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