Day Log
Posted by huntingr on November 1, 2006
Well we had a little move down today which shoot the $VIX up to an unreal level of 11.51. I set up an option play betting the volatility would increase between now and January 2007. Might have been a suckers bet but we’ll see. Not much happen except the weak got weaker on the 60 minute time frame, going from Yellow to Red. Took four shorts today that I plan on playing with a ton of spin, tight stops, due to the fact we are still in an uptrend. These shorts put my portfolio to work at 75% while making my current risk 58% of my allowable level.
Not looking at to many longs here for a second. I did find a nice Second Chance set up on VIP. The big problem here is do you believe the breakout, the volume is not backing much here. But not doing much more than that for now. Will be focusing on making sure my risk is taken away on my shorts.
