Tuesday, March 11, 2008

Minimizing Losses

Made the mistake of holding on another day with my puts, namely: DHI, WFC, IWM. The book i read last month stated: "Be quick to sell a loss." Well, it seems that it gets somewhat confusing when dealing in a bear market, and going with a down trend. Yet, that phrase kept whispering in my ear yesterday. Gotta listen to it.

I am not sad about my AGU/POT puts that i added yesterday, since they were so small and outa range, but set up for a $ if the market continued to sink. I will in fact add IWM puts after the FED cut rates again. There is no way for Ben to keep the U.S. from recession.

Oh, lastly... thereʻs this dude... Gio. He shared what he was doing a week or 2 ago. Short when the Dow is up triple and Long when the down triple. Wouldʻve worked yet again... i may do just that, but will wait patiently.

1 comment:

Gio said...

Dude! I totally called this rally on my blog. Vix at 30 shot down all the short sellers.

Did you see FXP and SKF get smashed?!