bought some SLV puts - kinda a lottery type play to see how rest of week pans out. long APC 78.08 stop .5 target 78.8
powerful little guy. clearly should have used this money to go long APC yesterday morning. on that note, will be adding to this today
ohhhh so this is what stops are for! SLV bulls eating my position for breakfast, lunch, and dinner. its an impressive show of strength ill give them that. buying SLV 41 puts here. rally in indexes is equally incredible right now. not sure what to make of this garbage =) think I finally realize what that quote about the "market staying irrational" means.
WHAT A WEEK SO FAR! been trading SLV, GLD, SPY, APC. this SLV / all metals trade has been a wild ride... got skinned on the way up during bubblicious breakout mode. but made some seriously nice $ on the way down this week. both SLV and GLD puts and stock. not sure if we go lower from here. can see 36's are possible, but would like to see continued bounce off 38 first.... maybe to 42 the market certainly taught me a lesson on this one. hopefully a good lesson in top picking failure and trying to be right for that big move (though admittedly that was a huge -swift-ass kicking move down) i couldnt believe the continued upmoves that kept happening, and kept breaking everything i THOUGHT i knew about TA. every day it just seemed unfuckingreal for those two weeks. weekly, monthly, daily, all had me believing i was right to fade that bullshit. but my account balance continued to say otherwise. i was in true awe at how powerful that speculative bubble became, but need to remind myself not to forget about my capital at such times. and use stops much much much much much more effectively. it is always beter to have capital to deploy when the move finally abates and turns. this came in handy Monday - Today. SPY: (puts) bought weekly options on monday... that was a small panic when i realized what the little "w" stood for beside those. worked out alright at least. APC: (puts) what i was buying for 44cents yesterday was worth 2.25 at one point today. while yesterdays gains were nice (as i booked them), it definitely stung a little as what felt like a homerun yesterday would have been the entire ballgame today. onto the next one.
crazy silver ride continues. bought some SLV calls today. actually thought 38 /50 day would provide a bounce. if not the daily TL in mid 36s. the force of these moves amaze me. might add to this tomorrow. not sure if GLD goes to 149 next or 136. (currently 143). i suspect silver will follow suit either way.