This is not a recommendation to buy or sell any securities. DAK was long SPY and SBUX and short GLD and QQQ at the time of publication but positions can change at anytime.
Thursday, August 18, 2011
I'm not really this good....
I know, I know. I look like a genius. Every move I made not only worked but I basically nailed the bottoms and tops all day. There's an old saying: "I'd rather be lucky than good!" I think it applies...... In addition to those SBUX calls I bought (Just like I said...) I picked up some SPY calls and GLD puts to play a small bounce in equities tomorrow. I'm still short the QQQ's (though I sold half my puts into the late-day decline) as I don't see tomorrows rally lasting. I'll sell my SPY and SBUX calls into any rally tomorrow and add to my QQQ puts. I'll also sell my GLD puts on any weakness in the high-flying precious metal.
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