Basically i'm still long-term bearish and think this is a band-aid and we still haven't hit my target of $150 SKF. I added them in smaller batches and plan on doing so again around $116, $108 then lower if we get there.
On the way up I started adding UYG if you remember and even though they got deepen into the red, I knew eventually it's work out when they cut rates. Thats also why I didn't want any overnight SKF this week. I 100% plan to be able to book ALL the SKF's I buy for profit but will have to sit through them being in the red for a bit. I'll be using UYG as the new buy and book instead of SKF and then when we reverse (and we will) i'll start booking the SKF's I planted.
Basically as long as we stay in this range i'm all set. Now if the Financials take off never to come back to this level then i'll have to book some losses, but i've made enough in this range that it wouldn't make a dent in what i've booked for profits. Plus i'll be making on the UYG's while i'm planting the SKF's. No matter which way it goes i'll be booking.
Make any sense???
3 comments:
I got ya. I guess this strategy requires a little more monitoring of the markets that I can give. I think we will get back to the 105-115 range, so I guess I will just load up then. I see what you are saying, it's a great risk management strategy.
"Largest gain (415)"
????? What do you mean????
The combo I have been using to do similar is FCX and DXD.
May have to look at something else though. I'm afraid the market is going to suck along all stocks with it like the Titanic going down.
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