Thursday, March 12, 2009

Buying Puts



I am VERY short! I sold my IWM calls for a profit this morning, and am now only holding IBB calls. ( I will likely get rid of these before the end of the day).

I am loading up on PUTS! I added to my put position in QQQQ and SPY.

Looking at the banks specifically, my XLF puts are currently at a loss. I am slightly impressed with the strength of the banks thus far, but I am holding on to my puts. I am interested to see how the XLF reacts when it reaches 8.