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Re-Hedged
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Re-Hedged

Re-Hedged

by The MoleJanuary 21, 2009

UPDATE 9:49am EST: I just used the little swing below to leg back into my spread. Took a bit of a hit this morning but added to the profits I made yesterday I’m break/even for the past 2 days. Not great but that’s how it goes sometimes – market likes to throw you a curve ball – roll with it and don’t have an ego. I’m going to watch this action for a while and it will take some real downside conviction for me to leg back out. We breached the 917 line on the SPX for a second time now (which is pretty bullish) and I prefer to play it safe until I get a better feel of where we’re heading.

UPDATE 10:32am EST: Sorry for the outage, guys – my hosting company keeps having difficulties. I would move to a different hosting provider, but they all suck in one way or the other and mine is supposed to be one of the best. Might have to upgrade to a co-hosted box soon, but it’s not cheap.

UPDATE 10:55am EST: There is practically no momentum in this market right now – thin tape continues, which makes me a bit nervous. Of course it’s tempting to unwind my hedge here but I won’t right now. Whenever things start looking erratic it’s usually best to take a step back and do nothing. The complete lack of momentum is disconcerting – anything can happen at any time. It’s treacherous out there today, be careful.

About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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