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Jack Haddad
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Jack Haddad
  • Bought DOG and wrote November strike 56 calls. 1 comment
    Oct 8, 2009 1:12 PM | about stocks: DOG
    I continue to believe in a sell-off and want to be capitalize on it while minimizing as much downside risk as possible.  That said, DOG is a great to bet against the DOW.  Bought shares at 56.23 and wrote Nov strike 56 calls against the shares at 1.60.  If shares trend lower, I'll cover the calls and ride the shares up. 

    Manager who have been sitting on market's gains since March will have to sell to realize gains for their clients.  This rally cannot go forever.

    Disclaimer:  MD Capital Management owns DOG
    Stocks: DOG
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    Why not wait mate. DOW is so close to 10,000 that it will most likely cross it...and having crossed it will tack on another 200 or 500 points at least. It is painful to short too early because it is not just the cost, but the damage done to the psyche while you wait for the market to turn lower. I think even in bear markets, equities spend a lot of time going up and correct fiercely. Liquidity is rampant and there needs to be a catalyst to bring the market down. Perhaps Ben will talk tough tonight. Perhaps it will be the dollar.

    If you are too early in shorting, there is the risk that you cover too early.,,once you hit breakeven and then you miss the gravy.
    8 Oct 2009, 01:27 PM Reply Like
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