As the title implies, we are losing our ASS in the AMIGOS!
With EEV hitting a new 52 low @ $55 down 12%, SRS taking a dump in the afternoon @ $76 down 13%, FXP for just being the devil, SDP for doing nothing, and SKF struggling to stay green .... this means either BOTD CAPITULATION or BUYING OPPORTUNITY. not sure which, we just know it hurts.
1) The only redeeming factor: We know deep down that the market will take a shit sometime in the nearish future. DOW 5000-6000 in 2009. Thus, holding the AMIGOS gives us the confidence to day trade on the long side. Our recent CALL OPTION victories in X and FCX are a testament to that freedom. Here's our advice, buy a 'chunky' position in "your" favorite inverse ETF. Then trade "calls with confidence" around that position.
speaking of the FREEDOM .... "anger is a gift"