Sell AMZN by buying back short Sep 67.5 puts
I am cutting back my long exposure as the stock market declines, and am getting out at break even on AMZN. "Never let a profit, turn into a loss."
For the stock market, it looks like traders are getting in early on September's track record as the worst month. Mark Hulbert reports the stats at Marketwatch (link).
The average change for September is -1.13%. As of this writing SPY is down -1.28% for the day. So while the calender tendency is measurable, it may not be worth trading, because some folks may be jumping before the month starts.
For a dog days of summer week before Labor Day, this one has been eventful with relatively big moves. Hurricane Gustav has been one catalyst.
Positions: short USO, long BUD, MCD
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