I’ve closed my FXP(22.06 -0.68), SDS(16.76 -0.49), and SRS(30.58 -0.96) positions. I’ve opened an SSO(53.15 +1.49) call position for January as well.
As expected, it appears that President Bush is going to tap the TARP money to bailout the auto industry. I’ve taken advantage of the low open this morning and scalped a bit of profit. I set my initial sell orders a bit too high and missed out on some nice profits. However, a quick 15% overnight scalp is not too shabby.
My portfolio is positioned all using the markets money right now with SSO(53.15 +1.49) and QLD(100.36 +2.66) as my two biggest positions. I’m banking on a Christmas Rally in the next few days/weeks.
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