Losers

Sold SDS for an 8% loss and finally threw in the towel on PPL Corp (PPL) for a 20% loss (inclusive of dividends). Will rotate into more XLU.

Some new positions in the past week

Bought:
Freeport McMoran (FCX) @ $103 (S @ 98.7)
Emerging Markets ETF (EEM) @ $46.81 (S @ $42)
Junior Gold Miners ETF (GDXJ) @ 41 (NS)

Sold:
300 Ultrashort S&P 500 (SDS) @ $26 for a 1% loss, will sell the rest at a more substantial loss ($25 stop -- 300 shares left).

Doubled short positions

Doubled my double index shorts (sds) @ $27.18


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Taking a shot short

Bought 300 UltraShort S&P (SDS) @ $26.05 yesterday. Stop @ $25.

Will get more short if 1195 is breached.

Back in the party

Short with SDS @ 33.50 (200)

Also wrote two SDS Aug 31 Puts @ $0.90

This may not be the end of this little bull escapade but it sure does feel like it.

Lightened up the shorts

Sold 200 SDS @ $39. 16% profit.

More shorts

Bought 400 more SDS @ 36.10 yesterday. No revisionist history here, just didn't update the blog.

Short again & some new longs

Bought 300 UltraShort S&P 500 (SDS) @ $33.50 with no stop
Bought 100 Chicago Options Exchange (CBOE) @ $31.50 with no stop (this is an IPO)
Wrote July 34 strike Puts on SDS @ $1.80
Buying more Yamana Gold (AUY) at the open, bringing total share count to 3000

Gap and Crap (Out)

Futures this morning gapped up handily -- almost 17 handles when I awoke from my slumber. Everything was higher.

And then, crap. Actually, there have been 3 other bad closes in the last week. One gravestone dogi, two other "ugly" candles. And then this nonsense today.

We need a full candle closed below the 200 DMA to feel "excited" about being bearish again. Until then, I'm not sure what to make of this.

I do know that Gold rolled over like a dead dog, and that doesn't really excite me considering the amount of gold positions I have.

Time to load up on SDS again?? Perhaps.

The dangers of High Frequency trading in your own account

Let my example be an example to you all. Overtrading is silly and makes you no money. I have a conviction that the market is headed much lower and I want to hedge my longs. So I buy lots of ultrashort S&P (SDS) in anticipation, and make real $$. Then, I try to get cute and try to avoid the short covering spikes.

This is silly. It's overtrading and it makes you enter positions at the times OPPOSITE what you should -- after the move has already begun.

I am opening new shorts tomorrow using SDS and QID, and I'm not letting go.

Covered all shorts again

Sold all SDS @ $35.3 for just marginal hedging gains; less than 1%.

Missed the boat by not selling yesterday morning for a 5% gain.

Beep Beep Beep

Backing up the truck.... bought 300 more UltraShort S&P 500 SDS @ 34.7 with a stop @ $34.

Total position: 500 SDS, or roughly $17,500 short with 2X leverage $35K short.

Reshort at resistance

Bought 200 SDS @ $34.30

I'm out of my shorts (really naked now)

34.6, closed all SDS for a "minor" loss. Let the bull parade begin up to 1150 where I may short again.

I'm a happy trader

Bought 300 UltraShort S&P 500 (SDS) @ 35.16, stop @ 34.1

I'm only going to track the SDS in the blog and not on the positions list as I am in and out of it too quickly here since this bear move began.

SDS

Sold 200 SDS @ 37. Will reshort if the market closes in below 1050 about 10 minutes before the close.

Short and re-short

Reshorted ... bought 300 UltraShort S&P 500 (SDS) @ $35.12

Moving on Up

Bought Bristol Myers Squibb (BMY) @ 23.9 (NS)
Bought more Ultrashort S&P (SDS) @ 31 (S @ 29)
Bought Goldcorp (GG) @ 46 (NS)
Bought Goldenstar Resources (GSS) @ 4.4 (NS)

New Stuff

Buys
BMY @ 24.45
SDS @ 29.8
NLY @ 17.2
AUY @ 10.20

Sales
RST @ 27.32 (32% gain, final lots)

Sales & Hedging

Sold two lots of Kraft (KFT) for $30.50 and all three lots of Hershey (HSY) for $43

Gains of 13% and 27% respectively.

Bought another 100 SDS @ 31.22 with a stop @ 27.50.