Here’s a link to the press release regarding the emergency order extension.

The naked short selling emergency order issued by the SEC will expire in approximately two hours.  For those of you not familiar with the order, the SEC has required that all shorting taking place within a list of financial stocks be subject to prior borrowing approval.  In other words, short sellers must make sure they have the stock on hand to short instead of shorting first and trying to find those shortable shares later.  I’ll run an update later on this evening in the event the SEC extends or modifies this emergency order.

Glad to be back home.  Not going to jinx myself but we’re getting close.  Very, very close.  And I don’t mean to market capitulation (although that’s getting awfully close too).

Lunch time!

Airport at 4am.. bleh.  I just hope I miss the early morning showers/storms they’re predicting back in Gainesville today.

Total Contracts Traded:  11

I sold off the rest of my STT contracts yesterday as they report this morning.  One of two things will happen.  When they report, the selloff will be horrible and I’ll feel bad for not leaving some of my shorts on the table.  Or after they report, STT rallies as investors will have more clarity into their business.  Either way, I don’t care to play earnings and STT’s given me a cool 200%+ return so who can complain.

Within the first 15 minutes, my DIA/SPY calls used to hedge against any upside were stopped out.  After seeing the pre-morning action and noticed futures ever so slowly declining, I put the stops in place which were immediately hit.  Needless to say, it worked out fairly well.  I did re-enter into some hedged positions but that may have been a mistake.  I’ll know more when I land later this morning.

Profits:  $377

Yes, I’m hitting new highs.  I re-read parts of Trading in the Zone and should have a post sometime in the next couple of days regarding the last chapter in the book.

First leg of my journey home begins in about an hour.  I’m upset I’ll be missing the market open but hopefully the markets don’t tank too hard without me in the game.

God I hate flying.  Waiting to board for the first leg of my trip to Pittsburgh.  Have I mentioned how much I hate, hate, hate flying?  Sigh…