I’m in combat mode here, after being poleaxed in a variety of subprime short sales. However, I did book significant profits in some of my individual bear bets.
Here is a quick recap:
Covered all of my [[FED]], [[DSL]] and [[WM]] shorts.
Sold all of my [[VMI]].
Bought more [[SMN]].
Sold short [[POT]], [[MON]] and [[DECK]].
Long story short, I now have ample cash to be more flexible with my trades. As of yesterday, I was levered up to my eyeballs in downside plays. Don’t misconstrue. I still believe there is significant downside left in the market. I just need to be more cautious with my risk.
Going into the close, I would like to see [[SKF]] trade under $105 (my buy point). Also, I may bet against [[GOOG]]. Those fuckers are due to miss, and miss big.
Finally, with commodities running like mad, and the dollar in the shitbox, [[SLV]] and [[DGP]] look great here.
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