Sold QID I bought on 11/5 for a 6% loss. This was a bet on the NASDAQ going down. I had a 6% stop loss set on it that triggered mid morning.
Good Trade
Sold FAS I bought on 11/6 for an 11.75% gain. This was a leverage bet that Financial stocks going to go up. I had a stop in that locked in a 6% gain, but figured I'd book the whole thing near the end of the day.
Trade for Tomorrow?
Based on the huge jump in financials today, I though I'd buy some FAZ, on a feeling that there might be some profit taking tomorrow. FAZ is an inverse leveraged bet on Financials, ie if the sector goes down, FAZ goes up. I have a 4% stop loss set on it. This buy is about half the size of the position I sold in FAS today. I'd be happy if I could book 3%-4% here, and would look at locking in gains at that level.
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