What a surprise. A “V” bottom just moments after the markets opened. The markets have changed from crashing to all-green. Disgusting!
I have been stopped out of ZILCH. To my credit, I sold my IWM puts the MILLISECOND the market opened (they expire today!). I wondered if I was chickening out, but doubling my money overnight definitely beats seeing it turn into a loss, which is precisely what it did.
I have an excessive quantity of positions, which makes it impossible to screw up too badly. I will say that a quick glance at GDX early in the day compelled me to take excellent profits, but I hesitated. A few moments later, the profits had shrunk by a third, so I already knew I had missed the magic moment. Crap!
Due to the nauseating about-face of the market, I went ahead and ditched my EEM and IBM shorts, but on the whole I’m still in position. Even with the equities ALL GREEN, I’m still up for the day, although a fraction of the super-juicy profits I had at the open.
Annoyed!!!!!
