Damn it feels good to be a short seller! Not to mention, two more positive reviews for my book http://wyliemoney.blogspot.com/2007/07/book-review-american-hedge-fund.html http://investingfromtheright.blogspot.com/2007/07/july-24-2007-american-hedge-fund-by.html Great, great week!
Thanx! I'm using the book as a hedge because I'll probably make money off of it if this bull market continues, while making money from my short selling if the kind of action we saw this week continues.
It was my second worst week of the year. The money lost wasn't what bothered me, it was more the frusturation at not being able to capitalize on the extreme volatility. In fact I got nailed by it a couple times. I made some much needed adjustments and had a decent day Friday so am looking forward to next week. Lots of data coming out to hopefully add fuel to the fire .
Made 10%, $4000 selling short. People say it was out of the blue? What charts were you looking at? Come on. If you lost money this week, then seriously, you are not a trader.
Made $8050.00 in 23 calls on AAPL (got out too early, before earnings, due to AT&T news), down $9000 in 35 calls of NMX, but still holding that position and hoping for some bounce on Monday and Tuesday going into their earnings and record volume of contracts trading.
last week was my best week this year if you trade futures, there is absolutely no short vs. long advantage (don't have to have shares available to borrow for shorts, for example). i make the most money in exceptionally volatile conditions. i actually prefer in some ways to trade narrow range low volatility, because it is easier, but the biggest money is made on days like thursday. an intraday trader SHOULD be able to make just as much money on selloffs as he does on massive bull rallies. imo of course