I would love to have entered this recognition on the backs of undeniable cunning, grabbing the full move of the day in the most coldly efficient means visible; I’d love nothing more to be sitting here gloating as I grabbed big dicked wins; I’d love to say so, but sadly, I sure as hell cannot.
I can’t because this morning I shorted PAY and OSK to hedge.
The humorous thing here is that, on Friday, I had absolutely no intention of hedging. I was set in stone, was prepared for a bounce, and there was nothing anyone could say to change my mind. Then, but a handful of minutes before the open, I got it into my head to hedge. Why?
Sure, I was sitting on a twenty percent margin stake. But really, would it have mattered much? I could have easily maneuvered after I saw the draw down.
Unfortunately, that seems to be my thing this past week or so. I’m not sure of where things are headed, and that uncertainty is causing me stress…
…which is why I’m holding these hedges, and maybe throwing on some more. Right now, I’m just dipped below one Beta, and will be keeping it that way until we punch through a few more hundred points. There will be plenty of volatility to scalp throughout 2010; no reason to play “Bet your fingers” in the alligator pit that is this run down.
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Touche. This is not over, fair warning.
Ahh, finally a KoPG post that does not require a special Little Orphan Annie decoder to figure out.
Welcome back, Sir Thaler. People everywhere were popping champagne today for the “bounce” – all 10 sectors in the green and finishing at day highs – surely that means we’re going back down…
It’s not champagne, it’s ACES bitch.
oh ok, Jay-Z.
I purchased NRP at $23.90. Not particularly extatic about the timing, but I’m looking for a sure thing and, thankfully, the spread between my margin rates and the dividend rate is healthy.