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List,
Well, it's 11 minutes after the open and we have sold all of our long
positions and have gone short. As per our current methodology, and until we
come up with a better technique for the short side, we have only sold the
indices (QQQ, DIA and SPY) and our futures.
I also closed out my OEX Calls at 52.5 that I purchase 6-12 at 33.5. I
bought some OEX Puts (Jul2000 OEX 800) at 17. I'm starting to nibble a
little bit more at these options and bought 10 of these versus the 3 calls I
bought on 6-12. This will probably bite me in the rear but who knows.
Being chickens, we have taken lite positions (about 40% invested short in
equities and 50% short in futures). If it goes against us, we will add to
our shorts. If we're right, we'll just take out less money.
The 6-12 buys turned out to be quite profitable after lying around for most
of the trade. I would like to thank the technology stocks for their big
move yesterday.
I would have posted this earlier but everyone here is sick. My 10 year old
(had a birthday Sunday) picked up some virus that the doctor says will last
a couple more days and my wife got it as well. I've been thinking about
running away from home. :) Then I managed to pick up a stomach bug last
night, so I ended up in bed moaning around 9:30PM. With everyone else sick
around here, I got none of the sympathy I deserved.
A final note. I guess I have to admit to settling into the Mr. Mom role. I
have dropped my CTO position in that start-up, bought a Mercedes-Benz ML-430
SUV and will be selling my Porsche Carerra 2 Cabriolet. I hate to admit it,
but there's just not enough room in that little car to hold my son and any
of his friends and their backpacks, or my son and the two Tibetan Terriers
that follow us around. :) No more trolling at the beach for
mother/daughters (at least that's what I used to tell my better half we were
doing) with the top down.
Happy trading,
Guy
Paranoia...you only have to be right once to make it all worthwhile!
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