Thursday, May 13, 2010

So far so good on "HHH"

Looks like we are up 3.6% on our new short "HHH" (at the close)that we put on this morning. I figured they couldn't keep hitting the "ask". It's just did not make any sense and we were a little frustrated they pushed us out yesterday- no biggie. Our attitude is just fold, re-think the play, and then re-deploy. We are actually hoping the market goes UP tomorrow so we can add more. We have changed from "the hunted" to "the hunters". I feel a lot more comfortable in this play since it is extended by 3 deviations from the norm (i.e. something's gotta give). I figure the volatility is high enough that we can play "a pyramid" and catch a nice move without being out-traded by Citigroup and Bank of America (how embarrassing!) it looks like the HFT (high frequency trading) firms are laying low right now given the backlash for " TheMay 6th Ghost Crash". The retail investor is out of this game right now. It's mano y mano. GAME ON.