Skip to main content
Message Font: Serif | Sans-Serif
No. of Recommendations: 0

SPX gaining 9.5% from the intraday lows just 3 trading days ago does indeed count as a really big bounce for me. And it has been a welcome relief, albeit dampened somewhat by the fact that my major short positions are all going into orbit right now (APOL, EBAY, GILD, ZMH). I was also short TLT, the 20+ bond fund, but I needed to unwind some leverage and ended up losing a little bit of money on that one after commissions and a dividend payment.

I was traveling and out of commission last Wednesday when the VIX broke 40, hence missed a trading signal I usually always take. I was also traveling and out of commission during Jan and Feb OE, much to my detriment. Thankfully it's spring break here in Minnesota and I can follow everything into Friday's OE.

Even though I know I shouldn't anchor on purchase price, it's really tough not to. And sometimes it takes a major event like a 15% loss to wipe the mental slate clean and start over. This weekend I wiped clean and started over. Consequently, I lightened up a little bit today. But I'm still holding plenty of stuff that I'd buy today at today's price, even knowing where it's been. So yeah, I think this turnaround still has some legs to it.

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.