Wow! That was fun. What a bloodbath.
After learning my lesson earlier in the week via my YHOO raping I was "smart" enough to cover a huge WB short and a modest COF short ahead of earnings. Ofcourse, they both got annihilated today. And, as I suspected their earnings sucked. Just goes to show you can't win. Tough market.
Unfortunately I was modestly long this morning. Like the bulls I sat watching my trading account balance slowly disintegrate before my eyes. Down a quick 2%, erasing yesterday's gains.
What did I do? Started selling longs and initiating shorts. Then I took a nap. It's Friday after all. Woke up and the market was still down 200+ but my balance had recovered- down only 1%.
Finished the day down 300 bucks. Ha! I could have easily lost 20 times that. So on one hand I'm patting myself on the back. On the other, I feel like I missed an opportunity to scalp the bulls for big profits today. Damn. I hate the bulls and I'm glad to not count myself amongst them today. Must say, I'm very excited to see my shorts working again after the parabolic rebound of the last few weeks.
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