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"
7 comments:
amen brotha
As soon as the Senate does something with this auto bailout we'll see some green on these short ETF's. If they pass it quickly we'll see a little jump. If they shoot it down and drag it out then we'll probably see a huge jump. Either way it's win win. Buy the rumor sell the news, we saw it today as soon as word came out that they reached a deal.
feel your pain BOTD, what concerns me most is the price action in EEV lately. EEM was at 25.01 on Nov 9, while EEV was at 91.10. The same thing with URE & SRS. While I am still 80% net long the amigos, with a heavier weighting towards EEV(more pain for me), could we looking at the end of levered ETFs down the road, seems like they can not track the indexes properly.
Long $EEV DEC Call at $60 $4.20.....My lucky number
bought MEE calls.
back in FCX calls.
riding UYM, AAPL calls, GS calls.
and holding our worthless ETFs.
"calls with confidence!"
go team~
sold MEE.
tip #88
don't buy a stock you don't really follow.
LOL,
Good pick BOTD!
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