Monday, August 10, 2009

Locking profits on 1/2 of my short exposure from Friday afternoon

As mentioned here I bought SRS/SKF and shorted some additional SPY on Friday afternoon. I am banking profits on half of my exposure. I think we have more to pullback but going to take the solid gains in one day off the table, especially with the longs continued late day squeeze fetish still in style.

The SRS good for 6%, SKF for 3.0%, SPY for 1%.

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