This is the first day in a while I feel badly despite making huge dollar$. WTF is wrong w these idiots, Paulson, Bush, Ben ?? Didn't they realize friday that talk sends the markets lower? Apparently not. It makes me cringe to hear paulson today. The ONLY thing this market should be hearing is "1% cut in the interest rate. Right now, today. We're not waiting a week". I will be donating half of my +20% YTD profits to charity. And anything else I make in 2008. ps 2 minutes later, glad they were reading my thoughts!
I've had a whippy, scary week. You guy's too, eh? I exited Gold yesterday on new swing highs (I was the low print of the day in the 900 put). It looked like a bad cover until today. It's hard for me to get real beared up on assets when the Fed uses the Weimer Republic's Guide to Economic Stimulus as their treatise. I was chopped like an MF in ES yesterday. 900 r/t's. Pretty frickin' sick. My WORST move of the year? Clearly yesterday's purchase of ZN puts and then scratching the trade! (I lost a half tick) EOD: worth 25k. I bit the bullet and sold ZN futs overnight and bought 10 ZBH8 120-117 spreads this morning. Pit trade and I don't know my prices but I did it on a 119.30 bond board.
BTW: Just to mention stocks. I'm ST bullish. IMO any rally will be muted but this is probably a fantastic time to be short premium. Cheap money gives stocks a temp floor/crap eco outlook limits the upside. Trading range for the next month.
Hey Austin, wassup bro? Wanna know the REAL sick part. It was virtually all 5's and 10's. Late in the day I did several 20 lots. Never had more than 30 on and that was for a nano second. My commish was just under what I lost. (around 10 total)
<i>"It was virtually all 5's and 10's. Late in the day I did several 20 lots. Never had more than 30 on and that was for a nano second."</i> Now then... you know that I know that you know a whole lot better than that when it comes to trading. Needless to say, something other than seriously trading for directional gains was going on with you. End of story. Been there before myself.