January 06, 2011
Once again, I think there is an excellent speculative opportunity to short the market, with a favorable risk-reward profile. As before, the most likely result is a small loss, as this kind of a trade is fairly low percentage, but with a big fat tail (profit) when it works.
Short the Qs (ticker QQQQ) at 55.81 with a stop at 56.09 (approx. 0.5%).
Update (close of market): This is another one that needs to be closed out at a tiny loss as holding overnight without a good cushion increases the risk too much. As we get closer to the debt ceiling vote, I expect to try this kind of a trade repeatedly until it comes home (or I get carted out -- but with the kind of tiny losses I'm taking it will be ages before I can be carted out, which is why risk control is so important).
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