Monday, October 20, 2008

Getting Short the S&P 500

I am taking advantage of this low volume rally dayin the markets to stick my toe in the short waters again. I will do this via the Ultrashort S&P500 ticker SDS

I am long 1 unit of SDS here at $90.25 with a stop at $84.34




Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit of Ultrashort S&P ticker SDS @ $90.35 stop $84.34
Long 1 unit Japanese Yen ticker FXY at $97.15 stop at 96.72
Long 1 unit of Ultrashort 20yr TBond ticker TBT @ $60.10 stop at $60.19
Long 1 unit of Chicago Bridge/Iron ticker CBI @ $11.55 stop at $11.79
Short 1 units Salesforce.com ticker CRM @ $56.05 stop at $42.12

2 comments:

senrex said...

I wonder if the light volume is because the boyz are waiting for the LEH settlement tomorrow. The banks are not following this "rally" (hence the light volume?). Tomorrow may be more upside before the next leg down. I think I'll await tomorrow before my first SDS purchase. I hate drawdowns.

Sean

Harleydog said...

Senrex,

could very well be. Never hurts to wait, as patience is an excellent virtue. Yes nobody likes drawdowns. continued speculating success to you.

HD