Thursday, April 9, 2009

Punting SRS and SDS Long

I am using the pre-holiday, low volume, Wells Fargo jam job to test the water again here.

Even though I was mercilessly stopped out of SRS this morning at the open I am prepared to re-enter this trade getting long 1 unit of the Ultrashort Real Estate ticker SRS here at $38.95 with a stop at $36.54

I am also going to test the water short on the S&P with the Ultrashort S&P500 ticker SDS here at $68.75 with a stop at $66.74

Housekeeping notes;

I was stopped out of SRS this morning at $39.55 as it gapped down for a loss of almost $4 3/4 pts on 1 unit.

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 Ultrashort S&P500 ticker SDS @ $68.85 stop @ $66.74
Long 1 unit Ultrashort Real Estate ticker SRS @ $39.05 stop @ $36.54
Short 1 unit Darden ticker DRI @ $35.30 stop @ $37.51
Short 1 unit Autozone ticker AZO @ $158.80 stop @ $163.06

1 comment:

Daniel said...

"Ted Aronson, a partner at Aronson-Johnson-Ortiz in Philadelphia, said Wells Fargo's upbeat preview into its earnings could place a greater burden on banks reporting results next week. Wells Fargo doesn't report its full results until April 22."

Is it typical for major banks to release and earnings preview 13 days before full results? On a low volume holiday no less. Awesome manipulation at work.

Love your site though. Posts like "Perception and Confidence.....Really ?" tend to mirror exactly what I'm thinking.