All in Cash

Hello Folks,

What a wild last few days! The market has been on an elevator straight down! I am almost all in cash (very few open options) as I wanted to take my money off the table before we go into a rebound. There are so many things at work here, but I believe we will be getting a rebound based on technical indicators and the fact that there is a Fed meeting coming up in a week and a half. I imagine we will get a rate cut, and a big one at that. It won't help the market, but it will sure shoot back up before it comes back down again--my prediction is prob 500-800 point climb in the Dow the next week or two with a crash right after rate cuts. Yours truly will be waiting for that bounce to reload my puts!

I'll have my eye on mostly indice plays and the financials as they will rebound the most.

Ok, now my trade history:

Sold the $62 SDS Calls on 15 Jan:

bought Feb SDS Calls for 1.80, sold for 2.60, a gain of 44%

I finally sold my Mar $30 C puts...I missed out on about $0.75 more, but I will shut-up and take my cash.

Purchased at $2.55, $2.70, $3.15, $3.30, and $3.35 and sold all of them at $5.00 for an average gain of 61%.

I also sold my Mar JNS $25 Puts:

bought at $1.20 and sold at $2.00, a gain of 67%

I also took out a few dumbass lottery tickets ($0.10 contracts) on Jan calls. I really wasn't thinking straight when I did this, but they are for a small amount:

bought Jan $26 XLF puts for $0.9 and sold for $ 0.15 A gain of 66%--I'm actually ashamed of this one, I got cold feet and ultra conservative, they ended up going for $0.40 at the end of the day--you may be saying, "Rocketshoe, they were lottery tickets and you got 66%, no big deal!'", Wrong. I about broke even because of the brokerage fees. I could have had a four bagger, but I was afraid to get greedy.

I also have some crap MER puts I bought on Wednesday. They may actually be worth something tomorrow:

$45 Jan MER put at $0.10

I'll probably set a quarter stop on them since I'm travelling tomorrow and just take what I get. Darnit.


Get rich.

-Rocketshoe