Thursday, November 8, 2007

Even Hedged, I Lost

I need to make this short, although I have a lot to say, as I need to be doing some research tonight.

The biggest news is that I sold half my MVIS. Of course it closed above where I sold it.

I closed out all of my inverse ETFs just before the market decided to run back up, this afternoon. All night last I kept thinking that I should have had double the size. I was right. I played the short side conservatively due to my long streak of losing trades. Had I put on decent sized positions, I would have done really well today. As it stands, the shorts just helped mitigate the MVIS pain.

All day long I was thinking the S&P seemed relatively strong. As it rallied into the close, I bought 100 SPY for a trade.

I also started a small short position in CAT, as it could not hold the 200 day average. I also started a small position in BZH. The chart for BZH is hard to argue with. It sure looks like it wants to trend up for a bit. And it held up very well today. I'm not sure what else can happen over the near term to push it below its recent range. I know, short CAT, long BZH seems to be an assinine move. I'm aware of the contradiction.

11 comments:

downtowntrader said...

Funny enough I shorted CAT this morning and I've been long BZH for a few weeks now. They are not going down with the other homies and I still think homies will get a bounce at some point. Also, part of their strength may be related to them working out a deal with their debt holders. Maybe the threat of bankruptcy is lower, but who knows, we just look at charts. I covered CAT for about a point when I saw the markets turning around, but I probably should of held it. I will probably get back in if it moves up over the next few days. Good Luck,

Joey

mdawsz said...

I still haven't sold any Microvision. I'm willing to give it some more time but I understand your frustration. At this rate we'll be getting close to my cost basis any day now, which is really gay.

mdawsz said...

Also, just between you and me, I'd bet that Fly is unwinding a portion of his position.

jeffpaz said...

He has to be. This damn thing needs some good news, and in a hurry.
I can't believe I've held while it's fallen a 1.80 or whatever... ugh!

Danny said...

code 139 my good man. tell you dad congrats re DLB. If he doesn't have it anymore, then WHY?!?!, but if he do then strike that last comment.

Ragin' Cajun said...

Code 139 in progress

Sierra Water said...

http://www.mises.org/books/causes.pdf

Jason said...

bzh is a trade of circumstance and charts, but in time it will be at zero. I agree with the trade though.

jeffpaz said...

Wood:

Do you import your transactions into herdst? I stopped using it in Apr because it was a pain to keep manually entering them.. Also, who do you use as a broker? Thanks
Jeff

Anonymous said...

You ready for this fuckin bear market. Let's bank some real coin buddy.

Woodshedder said...

Sorry folks. I've been so ill I couldn't even type up a frickin blog post.

Jason- why do you think BZH will go bankrupt?

Jeff- I use Scottrade, which for the most part I've been happy with. I've wanted to switch over to tradestation, but I hate waiting days while the money is transferred. Plus Scottrade runs fine on the network at work.

I type in all my trades on Stockalicious. It makes me pay more attention to the stupid things I do, like mainly, overtrading.

Anon-bear, I'm only waiting for the first relief rally to put a bunch of shorts on.