Monday, March 16, 2009

The Run is Done



The market rolled over nicely today, from up 160 to down 8. My puts did well. My XLF puts purchased this afternoon (outlined in my last post) are up 40%+ since I purchased them at about 1pm (this is why i LOVE options).

Coincidentally, my last post about buying XLF puts was published at 1:49PM, the exact peak, TO THE MINUTE, of the XLF today - FREAKY!!!!

Let's see what tomorrow has in store to figure out if this afternoon's action was just a little pullback before heading higher, or if there's more weakness to come and I can cash in on my 100% put positioning.