Shorting $SPY Into the Fed and Thru It

I bought puts on IWM and SPY, with a hard stop at 1,655. I’ve been skeptical of this market since May and have taken the position to fade rallies. Until recently, it’s worked like a charm. The market is flat over the past month or so and momentum has stalled.

That’s my position for now.

5 Responses to “Shorting $SPY Into the Fed and Thru It”

fly jr
June 18, 2013 at 12:39 pm

good work
fifty2weekhi
June 18, 2013 at 12:50 pm

No longer holding any long positions??
Frog
June 18, 2013 at 1:18 pm

Thanks, Satan, for your update. You’re a jolly good fellow and the best of all the many fallen angels.
charlie
June 19, 2013 at 6:49 am

How about FSLR if the markets close higher Wednesday?
Regsho
June 19, 2013 at 8:44 am

No tapering. We rally in the post-Fed market.

But then again, you’re probably smarter than I am.