Friday, August 19, 2011

Go with your gut!

When I woke up to the S&P futures down 1.5% and gold up 2% it was looking pretty grim for my end-of-day bets I made yesterday (I'm not really this good), but a little patience did me well as everything has turned decidedly up for the day. I sold my QQQ puts in to the morning dip for a nice profit and I'll be looking to sell my Starbucks (SBUX) and my Spyder S&P 500 ETF (SPY) into this strength a little later. I took a bit of a bath on my Gold Trust ETF (GLD) puts when I sold out this morning. I'll be looking to get short if this market rallies too much otherwise I'll be going in to the weekend holding nothing.

This is not a recommendation to buy or sell and securities. DAK was long SBUX and SPY at the time of publication but positions can change at any time.

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