I
count 44 winners, 12 losers for October. The good news is that my
trading account has recovered all the losses and then some from the
summer swoon. Yippee! The bad news is that my overall positioning was
a bit too cautious. I thought the market would be lower. I covered
some sold calls for losses in DIS Disney, NKE Nike, SKX Sketchers and
others.
Back
to the good side, I played IBB the biotech etf rather well, with
mostly winners, and a lot of them. IBB is not all that liquid, so I
sold options a bit further out of the money than usual to lessen the
chance to have to cover.
Going
forward? I think the correction isn't over. New lows might still be
out there. The parallel is to the 2010 flash crash correction,
which took four months to bottom. If 2015 keeps similar time,
late November 2015 would be the bottom.
If
this is the start of a bear market, all bets are off. I am open to
that possibility. However, am not willing to place heavy bets on the bear
becoming dominant. It is just a possibility.
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