Across the board, I sold or in the process of reducing my inverse etf positions by 50%. I am selling FAZ, north of $60, SRS north of $71, ERY north of $42, DUG north of $27, REW north of $84, SMN north of $44 and EEV north of $64.
In addition, I covered the entirety of my HANS position, just shy of $31. However, I am leaving both VNO and XOM shorts intact.
With today’s early morning move, my year to date gains are north of 10%. Although I think the market goes lower, common sense dictates that I lock in gains here.
UPDATE: A song for victorious bears.
[youtube:http://www.youtube.com/watch?v=HbsUHljuPhM 450 300]Assholes, don’t miss your window to book profits and don’t think you will time the bottom perfectly with new upside positions. Take your gains and grin.
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NOTE: Macy’s is reliant upon BAC line of credit. FYI.
Thanks for the coin
So is mrkcbill
j- grab some of that C on sale today!!!!
No buying. Just profit taking.
Quit being greedy.
Being down this much this week might be a good time to take shorts off. Remember how they like to run up Fridays in the past.
Fuck it I am rolling the dice and buying some SPY 75 puts for the test of the lows in Feb
Fly , do you think I should take down my line of credit today? How do you think this plays out as a Franny Mac? Will they reverse shit? Anybody?
I love this funnel shit.
I got long some QLD @ 27.61 and BGU @ 24.03.
MOOOOOOO!
mrkbill
Really? Why?
flip that flo…
good sh!t fly
Hey Fly,
Do you think I should hold on to FXP? Is C worth buying at this stage or is it doomed?
Fly, too bad you’re a WEAK BEAR. You covered way early. I’m not impressed at all. Personally, I now seriously question your abilities.
Gotta believe …. Went long GMW (baby bond) already received .41 div … Kent says BUY below 3.65
DD, you’re myopia is going to get yourself de-banked.
As for the vid: that was the first, and probably one of my favourites from DMX.