Wednesday, May 13, 2009

Bears back in control?

I will give tomorrow a chance for bears to convince me. SPX is right above SMA(20) = 880 on its daily chart.

Maybe I did it wrong today, that I doubled the size of my URE positions at $3.27. So, here is the map of my URE positions now:
1 * URE (avg 3.75) -> sold 0.5 * URE at $3.92 -> bought 0.5 * URE at $3.27 -> resulting in 1 * URE at average cost $ 3.37

URE cost is not that bad, while my SPY call options are under deep water now (-50% loss).

Will see how market acts tomorrow. Good Luck!

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