I just sold out of everything except my BBY and SBUX shorts. SBUX reports earnings after the close today. I am short 750 shares of the stock and own 5 Jan 2012 $45 puts. I stand to get my ass lit on fire if Starbucks reports good earnings, but I am prepared for it. BBY, I am still short 400 shares of the stock, and own 3 Jan 2012 $40 puts. I’m not too worried about that one because I think BBY is going down the toilet within 2 years. I should short more.
I should’ve kept my DGP (double gold), as it’s flying now. SLV is lagging a little bit, but hanging in there. I think gold is probably gonna continue soaring here, but it’s gonna do so without me. This tape is not for the faint of heart. The action has been so wild. If you’re a trader, it’s game on, but for swing traders like me, it’s probably better to sit tight and “see what happens” over the next few weeks.
Shocker that I sold Netflix at $80 a few days ago. It’s pushing $91 right now. Anyways, every time I have a play, everything changes a few weeks later, even though things don’t really change. WTF?
