Going into today, I have a handful of shorts. However, opening up 200 points lower, I felt I needed more exposure to the long side. I know today does not look good, but you have to be hedged to remain in this market– anything can happen.
What I’ve been doing is adding longs on the big drops while adding shorts on strength. So far it is working out well.
Should we drop below the lows of the day (below 10,835) I will be adding to my shorts again.
Comments »Energy Conversion Devices, Inc. [[ENER]] @ 61.90 — Stop @ 61
Amazon.com, Inc. [[AMZN]] @ 76.60 — Update: Stopped out
Apple Inc. [[AAPL]] @ 136.00
Comments »Think about this for a second. We were on the brink of a total global meltdown, and somehow the Gov’t managed to pull a rabbit out their ass. I’m not saying it’s straight up from here, but you got to believe we rally the rest of the week off the AIG news.
Did I mention it’s option expiration week. Do you relize how much money will be made the rest of the week? Stock have been beat to a pulp!!
I have a lot of scanning to do tonight, I’ll be sure to share my results.
For those that missed the weekend special, here it is again (Note: make sure the volume is on):
[youtube:http://www.youtube.com/watch?v=yIY2pQJdPps 450 300] Comments »Apple Inc. [[AAPL]]
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