I went long SP500 at a price of 2075 yesterday and needless to say I am in the red much more than expected so quickly too. Anyone else in the same predicament ? I have my stop at a seemingly unimaginable level of 1980. I have been shorting in and out trying to repair some of the damage but I have a bad feeling about this trade. I have halved the position since thinking about even reversing. I have a bad feeling about this one, all major markets around the world sold off 2%+ today.
Yeah I was positioning via options for a Sept swoon, so I basically had my long puts spread out against short puts, so only minimal gains on this drop...It's been awhile since we had a down OpEx, so this one took me by surprise... Today was the first day in awhile where it just sat down on the lows, hardly any intervening rallies...that's a new one.
Wow man this thing got slayed today. The interesting question is: why? It's not like rates are going to be increased - everyone knows that isn't going to happen. Have the hordes finally come to the realization that our economy is actually not "strong as evar!!!" ? Has the realization that global demand and strength is decreasing hence nobody is rushing out to buy iphones and Netflix subscriptions become clear?
yep SPXS now at $19.38, 6 cents higher from where I sold, the sell off will continue into tomorrow. And I was sitting on lots of shares as well, Eh my TZA will make up for it...
I noticed how the market just sat at its lows of the day and continued to drop hour after hour, I fell for it to by adding a few longs, anyway SPXS at $19.38, sold $19.30 will keep everyone in the know how much money I lost by selling that gem early.....hoping for a triple digit rally tomorrow so I can get back in SPXS at a lower price and wait for the markets to really drop
Haha it was a small pure speculation trade. I actually closed it just there at 2030 just on gut feel that there could even be a larger sell off tomorrow. Might be time to put on a real sized short though, we haven't seen 2030 since February.