Placed My Bet

…and got my nuts handed to me. Twice, I took losses in BGZ today. Luckily, I added UYG in the afternoon.

As it stands, my trading portfolio looks like this:

Long C

Short LM

Long UYG

In the long term port, I’m still long AAPL, GOOG, YHOO, FCX, WTI, & CLNE.

BGZ, Large Cap Bear 3X

I have to agree with the rest of the gang and say we close near the lows of the day. However, should this market start to rally I will be all over UYG as a hedge.

Note: The financials are holding up rather well, thus the deviation from my game plan.

Update:

Bear Flag?

Here’s the game plan for tomorrow:

In a market where it’s hard to find which way we will move next, I like to look at stocks that I think could move the market.

GS is one those stocks I turn to. If it can trade above $70, I want to get long this market.

Now, looking at a shorter term chart of the S&P, we are still making higher lows. We saw yesterday how quick things can change, remain cautious and hedged at all times.

I want to see us trade below 827, today’s low, before being net short.

Nice head and shoulders formation on the S&P:

I got long FAZ, financial Bear 3X, earlier today @ 62.98. I will continue to watch BAC for my tell, and LM deserves to die here.

Disclamier: I’m short LM.