It looks like the market is headed south. The dollar is gaining strength and Treasury Yields are decreasing and investors flee to Treasuries for safety. So today when the market was up a little I bought to open 1 SSO September 14 put for $3.40, and paid $342.95 after commissions.
This is an inital position to try and capatilize on a big move south. I'll add some more 'short' positions in a few different areas after a down trend is confirmed. I'll probably have a call spread or some naked calls in different sectors, or but some long stock in some inverse etfs.
Other than that I've done a little day trading lately and am 3 out of 4 for wins. I'm still working on a strategy that provides consistant returns. I like to buy FAS or FAZ on a consolidation tick, with a stop below a probable reversal point. I do this when the TICK shows higher highs (or lower lows in FAZ's case) and hold it for only a few minutes. I do this leveraging like 1.8x my account, or around $10,000.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment