Alternate Strategy: March 23rd, 2009

March 23, 2009 – 2:46 pm

I am contemplating whether or not to remove a large portion of my funds from my trading account to hold in cash. Ontop of this, removing the funds prevents me from trading with it. The market currently is truly getting near impossible to trade, as today I got stopped out of my large FAZ, SDS and MA position (I didn’t get stopped out on MA actually, just closed it due to financial strength)

  1. 5 Responses to “Alternate Strategy: March 23rd, 2009”

  2. word. This market has been a killer to trade..

    By Joe on Mar 23, 2009

  3. I just got in FAZ today @ ~25.50…. and now its at ~19, never seen sucha big drop in couple hours….

    but i think the financial market is still too unstable, so I guess I will just ride it out..

    any thoughts ?

    By Ed on Mar 23, 2009

  4. no idea ed. I purchased a position at 35, added to it at 26, only to see it go back up to 35, then drop to 19 today at the close. I got out in the high 24’s, so I guess I cut my losses but it is very frustrating. Needless to say, I took a good size loss.

    As far as the current strength in financials, it is a load of hogwash. Nothing fundamentally has changed.

    By jmoon on Mar 23, 2009

  5. I was still too worried about another mini-rally to get in on FAZ again . I agree with Justin that not much has fundamentally changed. They say banks are supposed to be profitable but no one says how that’s going to happen.

    Daniel

    By Daniel on Mar 23, 2009

  6. i would personally stay away from it for now i took a loss on it as well most of my profits were gone and some more there riding financials higher for the time being even like jmoon says its a load of hogwash

    By john on Mar 24, 2009

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