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Un-Hedged
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Un-Hedged

Un-Hedged

by The MoleJanuary 20, 2009

UPDATE 2:25pm EST: I just legged out of my hedge as we breached the prior 817.04 low, back to delta negative as before.

UPDATE 3:15pm EST: So far so good. I just checked the breadth on the SPX and it’s 20:1 declining leading advancing issues. That’s mighty bearish folks.

UPDATE 3:55pm EST: A few more ticks to the closing bell. Has been a good day – the MMs were trying to bang things back to the VWAP at first but eventually relented to selling pressure. Right now as I’m typing this it seems the ES futures might fall of the plate. Let’s see if some suicidal bulls will attempt to step in at the last minute to grab some ‘deals’.

UPDATE 4:16pm EST: I’ve been watching the futures tape after the NYSE closing bell and someone is trying to bang the spot price higher after hours – nice try mofos… you will fail.

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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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