I just bought in on about a third of my desired position at $44.47. I am going to wait on the remainder for right now. I don't think it will go much lower than the $40 area right now, but I might be completely wrong on that. I'm going to look to add if we fall another 5-10% or so
Like I said Im short with long positions, Im constantly in and out of short etfs and long etfs, some longs I hold onto longer than others and vice versa. Today I sold SQQQ after buying yesterday on the dip...then today while the markets were down I bought back into SVXY and GUSH, those are bullish stocks...SVXY is a VIX play, so if markets climb and the VIX drops SVXY moves up...I also bought GUSH, thats an energy play, moves up when oil and energy moves up...Im constantly repositioning my trades, this week alone I made about 15 trades...Im still extremely bearish, right now with the markets where they are I'm flat to slightly up on my 2 portfolios. TVIX is being a huge help today...
I only bought a tiny position in that stock since I know how volatile the markets can be..its really to offset the TVIX I own....if you don't think SVXY is going any lower than 40 then you think the market isnt going back to August 24th lows....if the markets do make another drop to August 24th lows and the VIX spikes back above 45-50 range you could see SVXY drop into the low 30s however if you think the s$p is headed for 2000 you will easily be able to sell SVXY above $52 without a problem....If I wasn't holding TVIX I don't know if I would be trading SVXY, I sold it for a profit yesterday around $50.15 and bought back in today @ $45.90
Hedging isn't just ATM anymore. The CBOE Skew has broken to the upside. People are hedging for a much lower SP500.
I wouldn't just trade ADI, I would rather trade SMH instead....I like to trade SOXS and SOXL but SOXS is way to expensive now for a trade....
Who wants to stay long over a 3 day weekend, with China two trading days, for a gap down disaster again?