For those of you who are following my short recommendation, I closed all positions out today about mid morning.
I ended up making a net profit of about $3,000 in my 2,000 shares of QID, and about $1,000 in my put options on the QQQQs from Tuesday. Added to the $1700 I made on the early options trade, my net was around $5,700 from being short on and off over the last few weeks.
I closed the positions out because I will be traveling all next week, and completely away from the computer. You have to be fairly nimble on these kinds of trades, and I was uncomfortable being completely out of touch with civilization with this trade on. I will be on a family vacation from the 23rd to the 1st, and I’ll be in an area with no telephone or internet. Hence, the decision to be out.
I still believe the NDX has a date with 1907- we’ll see where we go from there. I am moderately bearish on the markets as a whole through July, then I think we will power higher. There will be some great bargains to be had mid summer.
I think you should take your computer…… what about satellite what if we get some great news on one of our investments & we need your input. I know….. your wife said she needs your undivided attention, but who wares the pants here….. maybe you should’n answer that question. have a great vacation talk to ya when you get back. verland
Editor: Verland- I love your comment. BTW- my wife doesn’t even want to go on this one. Too bad. However, don’t worry- I have some back up for big stuff. We’ll be keeping you in the loop. Any breaking news will be covered, but there won’t be a daily market overview.