bought at 58.09 on 5/7/09
This is dangerous, I know. However, it's a small position and I'm using it as a slight hedge for the time being. I'm just really not sure what's happening in the market right now, but believe we'll see a little bit of a correction:
This is a leveraged Moving Average buy. The index moved down through the 20 and 50 (10 minute) moving averages. I'm holding this as a hedge in case the market makes a major move down, and my other two positions break down. I haven't made money on this type of trade in the past, and I don't think I'm doing much differently, so it's probably a stupid trade. I'll get back to this later.
Update: sold at 59.37 on 5/7/09
Why I sold: It hit the day high. SPY hit a low. I didn't want to hold SDS for more than intraday, and I had no conviction that we'd see move either way. Since I held a profit, I decided to get out. Minor success (1.85%) on a small move, but not bad for an intraday play.
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