Thanks. By the way I got your book a few days ago and so have only had a chance to peruse it but it looks good and useful, thanks. Going to give it proper attention this weekend.
BSC conference call http://www.thestreet.com/_yahoo/new...ml?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
Time to inhale some smelling salts, clear your mind, and pinch yourself to make sure you are fully awake. Not good to find yourself down hundreds of thousands after waking up from a daze like some of those people calling into CNBC during the dotcom bust.
yeah its like buying amazon on the dips in 00. the game is over guys. now we just need to figure out whats the next game the market will play. crush the financials comes to mind. rebound on homebuilders maybe
It gets worse as I also have calls on Bidu and AMZN that are underwater. Altogether I am down 127K on those and my GS calls. The reason I'm not sweating it is because I am UP 640K on my EEM puts alone. I was/am looking to protect my EEM position from a significant bounce or a run to new highs. FWIW when I posted about smelling a rally the YM was trading at 13435-45 and subsequently rallied 50-60 points to 13495 within the next 30 mins before failing. GS rallied $3 in the same time frame. Like I said FWIW which ain't much as I didn't take advantage of the failed rally to close my position but after the last few months being being short and having to enduring the rip roaring rallies I couldn't see all my gain evaporate once again hence keep these hedges on even when market action suggests otherwise. As far as Monday goes I am not sure we will see follow through immediately, we may get a bounce as the buying on the end of the slide Friday was pretty strong with plenty of 600-900 lot trades on the ES going off on the offer. It may have just been covering but I am feeling better about Monday still holding these high beta calls, I am hoping we get substantial downside follow through but I wouldn't be able to hold the size I am without being hedged.