Category Archives: Victory

Beginner’s Luck

By -

I mentioned a couple of times earlier this week that I had done something which I hadn’t done for years – – bought an options position. Specifically, I bought a big slug of $143 QQQ puts, expiring July 21st. Well, I just sold ’em, and it worked out nicely (I did this screen grab a little earlier; I actually got out at $3.00, higher than shown here).

0609-options

I know most of you are fancy-pants options traders that do sophisticated positions, but I’m just a dumb old bear.

Oh, and one other tip – – now that I’m out, I can assure you that the NASDAQ is going to completely crash sometime between now and July 21st. God has a riotous sense of humor.

A Positive Negative Day

By -

In spite of a VIX scraping zero and a SPY that fell all of nine hundredths of a single percentage point, my lovingly-crafted portfolio had a good day. I gained 1.6% on the day with my entirely short portfolio, and my “ETF Only” portfolio hit a lifetime high in value. It comprises a mere three instruments: DRIP, ERY, and FAZ. Those are all triple-leveraged.

Those energy ETFs are particular favorites of mine. Here is one of them, which is about to reach escape velocity away from its cup with handle pattern:

0529-drip

(more…)