This is normally the worst hour to be in (2-3pm). The selloffs during this hour have been harsh. So far we’re up a solid 160 points with about 90 minutes of trading to go. We’ll see a 200 point close today, I hope! I do thank the bulls on Wall Street today for their efforts. The losses I reported in my weekly progress report this week have almost all but been eliminated. XTO’s finally turned a profit and LVLT’s reaching the break even point when factoring in a covered call I sold about two weeks ago. It does pay to be patient.
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- Long SMN @ 35, Short XLU @ 30 2009/02/06