Wednesday, August 19, 2009

Certainty

When I make a trade Im always certain I want to make the trade but I am NEVER certain of the outcome - This morning with the SPUZ down 11 the buyers were certain they wanted to buy and now seem certain that they will continue to ramp higher. Who can blame them that thinking has certainly worked over the last 3 months.
Im beginning to get a little nervous about being short CHK deltas here - lots of people I talk to are short it and on the flip side lots of "pros" are long banks. Im probably going to lighten up on the CHK short..and maybe look for some cheap downside in some banks.
The SPUZ are bid solidly down a whopping 2.25 points on the day - what me worry?

JB

No comments:

Post a Comment