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Post by brosin on Nov 4, 2010 12:51:10 GMT -5
They aren't kidding today - and I don't even have a platform running. Is there anyone who is not at least starting some long positions here? I'm just trying to decide where I want to do it. Maybe I'll actually do something smart and buy SPY calls as opposed to picking stocks? Well I'll look at that later when I have more time. Went with FAS @ $21.48 as a starter position for a few week trade. Added my 2nd of up to 5 entries on the few month FAS trade. Avg now $20.82 Played some RayGun EOD @ $.17 Here I was upset this morning that I thought I missed another nice shot at my 3rd bullet on the FAS train - just grabbed some more $19.50. Avg now $20.28 for the few month trade. I just made what could be a poor move - just took on unit #4 @ $20.40 (technically not really avging up since my avg was $20.38 already). Only way I'll go to #5 is if it goes under my $19.50 lowest entry so far, but I don't really think it will. I moved order up to $19.45 and filled. Might miss the final bottom, but not going to try and catch it because I'm going to be busy through Friday EOD. FAS position completed, avg $20.19 - not too bad. Plan is to hold for 4-8 weeks. |
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Post by brosin on Nov 4, 2010 13:00:35 GMT -5
The plan: My tentative plan is to start unloading up near $24 or $25 whenever that is, preferably within a couple months at minimum. I'm still not ready to give up on the market either, which means I eventually expect FAS to get back up towards $30 again, but I will be lightening up sooner than that. I am without a doubt more bearish than I've been at any point since the rally started. My FAS in real life is green for the 8th close in a row  What is your plan with your FAS? Are you holding it for the long term, or do you have a (mental) stop on it? My plan as it was set was to get in with 4-5 entries as close to $60 ($20 post-split #) as possible (I ended up with $20.16 on 5 entries) and ride it up towards $100 ($33) again. A smaller portion of the plan was to at least consider selling some near $75 ($25) as that was a key horizontal range for FAS for many months in the Spring ($60-75). So that's where I'm at - trying so hard to play this one according to plan. I will reconsider where the market is headed in the $24-$25 range. At worst, I would lighten up half because I think this market has a lot of room to head up in the next 12 months. FAS could eventually get near $120 again ($40) and I'd be looking at a 100% profit. Those 100% moves have been there for the taking over the past 18 months in the 3xs (DRN, FAS, CZM, EDC, etc), but they are usually very difficult to hold that long. I'm going to see if I can do it. Wish me luck! lol |
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Post by brosin on Nov 8, 2010 13:55:56 GMT -5
Out 1/2 at $24.90 I know I'm early here... but I made it this far sticking to the plan. Not time to go against it now. If I wasn't going with the plan, I probably would've sold in late Aug for fairly decent loss when I definitely thought the market was going to tank. As it is, i'll take my 25% on the first half |
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Post by brosin on Nov 8, 2010 14:00:08 GMT -5
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