Stocks, Trades and Ideas

Absentee Trading

I re-bought some SDS yesterday, and before leaving this morning, placed buy orders for some more [[SDS]], 100 shares at every dollar down to $72. All bids were hit, obviously (day low was $70.45).

I was sure there would be a sell-off and think Monday will be a down day as well (start up, finish down, or start down, at least). I sold 1/4 because it feels good to lock in some profit, no other reason.

So far SDS is neutralizing half my losses in [[PWE]] and [[AUY]].

PWE must go, all of it, including the long-term position. I’m clearly on the wrong side here and will be for awhile. The stock is broken. It’s sort of inconvenient for shorting because they pay a distribution every month, not every quarter like normal stocks. However, during the month it still provides good shorting opportunities. Lately death plunges have become the norm.

If AUY doesn’t go up on Monday or Tuesday, it must go as well. Looking back at the last couple of months, the worst trades for me have been longs. I’m just not nimble enough to go long in a bear market.

I’d also like to note that today [[MSFT]] went up to my lower target and even above it. Didn’t quite make it to the high target, but it may still happen. The signal usually works out over a week at most. I’ll be watching to see if $28.60 is hit.