Tuesday, June 4, 2013
C-R-A-A-A-Z-Y!
I finally got upgraded to Level III trading on my SBA recently and this morning, I woke up to additional purchasing power on my SBA in the form of margin, which I've never had before. It took a lot of effort not to utilise this margin, especially as my equity recovered a very substantial part of my recent losses today.
It is crazy how much leverage E*Trade is allowing me: Cash x 5!
I made a choice to take some profits off the table and re-enter positions trading below or quite near to my original entry prices. I took some losses and got out of the full SPY put spread I erroneously and naively put on a few days ago. This could turn out to be the best loss I ever took.
Whilst the market made a concerted repatriation effort, it appears the short sellers are gaining conviction.
Let's see if the Buy the Dippers can regain their pricing power...
After profit-taking on both accounts today:
-3.69% SBA
+0.76% Roth IRA
-0.50% DJIA
-0.58% Nasdaq
-0.55% S&P
+0.51% FTSE
+0.31% Eurofirst
+2.05% Nikkei
-1.17% Shanghai
-0.33% SENSEX
+0.01% Hang Seng
+0.02% WTI
+1.21% Brent
-0.89% Gold
+0.90% Copper
+0.92% Corn
+0.54% USD/JPY
+0.60% EUR/JPY
-0.49% DJT
-0.12% VIX
+0.14% 10-Year US Treasury Notes
Up Next:
Tomorrow
ADP
ISM Non-Manufacturing PMI
Thursday
Unemployment Claims
Friday
Non-Farm Payday
Unemployment Rate
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