Monday, August 24, 2009

Crazy Market Gives Me Exit Signal

Gee, it's nice to be right but ridiculous is ridiculous. Getting a 10% move in just a couple of days, and watching a constant uptick in BA gets me out the door. Got another double in the Sep 45 calls as they are trading at 3+ now.

Yes, I thought that it could have a great move but this panic buying is not something that I like to see. I'm stepping down some on the longs and adding to by DXD ultra short Dow position.

Yes the market can remain irrational much longer than I can remain solvent. But such crazy markets make stocks seem more like Vegas than Wall Street.

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