Friday, November 14, 2008
Out and About
I am out for the weekend. Everyone have a good weekend. Just to follow up since I mentioned it yesterday, I covered my index short right at the open. It was a 2x ultra index so received about 4% in 1 minute of open trading (30 seconds at the close yesterday and 30 seconds at the open this morning) and decided to get out. Don't do many trades like that (especially in the fund) but I thought it was a great probability bet that was just asking to be taken. Sure the market has since rebounded and fallen further but trading is different from investing. I don't consider myself a great trader but even I can see Everest among hills.