Wednesday, June 17, 2015

I Shorted More $FAZ Today

As the headline says, I took advantage of a small pop to add some more $FAZ on the short side today at $11.06.  I was ahead on it a lot after the Fed no-decision, but the price recovered a bit and hurt my short.

I am short a bear ETF, so if it declines, that's good for me.   I also covered my $XIV short I was using as a hedge.  Made a small amount of money, but there doesn't seem to be a big need for a hedge post the Fed meeting.

Greece is still out there unresolved, but I expect that to continue for a long time.  If anyone is really hurt by a default, it's their own fault, we known about this risk for years.

Here is the updated Short List.  I adjusted the beginning price of my $FAZ short.

Overall a negative day, even though a lot of my positions gained.  $NUGT went up sharply after the Fed and that hurt me.  I am still up on that one overall.

Close Initial Short Gain (Loss) Percent
NUGT                   9.70                         10.47                  0.77 7.4%
BIS                 29.41                         29.75                  0.34 1.1%
TZA                   9.44                           9.90                  0.46 4.6%
VIXM                 54.18                         54.60                  0.42 0.8%
RUSS                 30.55                         30.40                (0.15) -0.5%
CORN                 23.07                         22.68                (0.39) -1.7%
FAZ                 11.02                         11.26                  0.24 2.1%
UVXY                 38.61                         40.68                  2.07 5.1%
FXP                 30.00                         27.58                (2.42) -8.8%
SCO                 55.58                         55.93                  0.35 0.6%

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