Only a quick post. Worked a long day and have to get up early in the morning for an early meeting. Work is starting to be a little crazy with me doing the job of two people.
The hedge is doing exactly what it is supposed to, it is creating ballast for the rest of my portfolio. I still lost money today, quite a bit actually, but I'm not nearly as worried about it as I would be otherwise because my short position is balancing everything just a little bit. Considering that this is a short term trade for me, and my other positions are long term holds, then I'm not worried about it.
The market is pretty ugly though, and I expect us to test the lows of the market that we bounced back from. I expect the Dow to go back down close to 8000. I will probably start selling my short position in that case, and play the market the other way. But it won't be nearly as aggressive as my short position is/was because I think we could easily go below where we were last Friday.
I'm still holding off until the storm dies down.
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