James, I haven't really taken much notice of the SPY but you brought up some interesting points. I may be able to use the SPY for sentiment reading or for arbitrage (sp?) opportunities (i.e. buy/sell whichever one is out of alignment with the S&P cash prices).
I'm hoping you will take the time to post some of your SPY trades as you make them. I'd be interested in seeing exactly what you are doing and exactly what is working for you. Or perhaps you could post a specific example of when you bought and sold and at what prices. I haven't worked the SPY but I'd like to at least experiment with it.
Ratan, nice trade. I'm glad to see you are working your positions instead of just jumping out at the first sign of trouble. I didn't work my position at the end, but if I had, I would have done something similar to what you did. I'm glad to see the market treated you well :o)
I'm sorry I missed your end of the day posts. I had a business phone call at the end of the day. It cost me some money as the call was at a bad time. I sold my DELL @ $ 88.50 to make enough for a bagel, or something. I definitely should have made more money on that trade. I'm not sure how I messed it up. At least it wasn't a loser.
I bought a small amount of RECY @ $ 6.34. I missed selling that one too. It is still up for me, but I think I can get more on Monday. If the market is down on a panic on Monday, I only have a small position so it won't be a problem if I decide to sell.
I am carrying a significant, but not large, position in MDCO @ $ 20.50. Again, I could have sold @ $ 21, but I think I can get at least a dollar on it . . . maybe even two or three if the market has one good day, though I may not wait long, as long as I get at least a dollar. If it goes below $ 19, I will probably sell, unless it is during an opening panic.
Ratan, I always enjoy the posts here. Sometimes I feel like I'm posting too much too. It is fun to share the excitement and learning experience with on-line friends. |
