Hi Bonnie; I'm sung as a bug in a rug. Went short 200 MDY, 400 XLK
on the open, at 11am I shorted 100 DIA, I have my finger on the
trigger to buy 400 SPY IF she starts up, and may do it at the
close any way, but the shorts will ride until I see a turn
around , one buy order on the SPY will hedge me and lock in
profits, & I can leg in and out of her, if things go up I can
close the shorts incrementally, and let the market tell me which
ones first. I got this figured out about a month ago and payed
a visit to my broker to find out exactly what I could and couldn't
do, and have been waiting for a day like this to put it in action.
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I'm handicapping the dogs for tonights program, and may go to the
track. It's iffy on my going long the SPY at the close but feel
that would handle any tricks they might play tomorrow on the
open..and will buy me some time so I'm not wiped in and out
of my shorts.
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Broker says I can't get shares to short the internuts so this is
next best thing. On top of that most internut stocks can't be traded
via the net right now..you have to call in and getting trough
is tough, I can do a buy on the spy via touch tone if the web
goes down..so I got my arss covered.
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Side bar plays are CMO..( I'm just holding with calls sold )
FP bidding at 2-5/16 also holding at that, and a long shot
on SNBC as a take over play on a hunch.
That's it, the rest is in bonds and will stay there for a bit
or maybe a long time. I'm trying to curb myself from stock picking
and play the SPDR baskets and mutual funds.
Don't let any one tell you small funds haven't made a run,
they have kicked butt since SEPT..but that seems to have
turned around for now..heck some of them went up 50 to 85 %.
Most all of them beat hell out of the Large cap funds. ( in that window ) Sept to a week ago.
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The Dow looks sick, and over half gutted.
T and IBM holding it up the most..today the tail got a bump
with UTX but her internals look ragged out.
Do people really think that all the blue chips can sell off,
and every one will retire off the Techs.
No way it can hold the way the rotation has been.
Jim
EDIT.. just looked and went long SPY..should not have taken
my eye off her, and should have hit her 30 min ago.
That's it I holding right were I'm at till I see what
tomorrow brings. |
