Tuesday, October 18, 2011

10/18 - Intraday update

This morning was a good one for financials. Although GS reported a big loss, BAC saved the day, reporting a $6.2 billion profit. That seemed to lift the market, together with good economic data (see below).

More to come after the market close.

I took some profits in BGZ yesterday after-hours and other today in pre-market: FAZ, SKF, EDZ. All 1/3 position, just like TZA yesterday. When the indices started rising in the first hour of the session, I got stopped out of FAZ, SKF, BGZ and TZA (all stops were raised, some over breakeven), all for small or mediocre gains.

Results of the jury:
SKF: +0.56%
FAZ: +0.92%
BGZ: +2.04%
TZA: +2.49%

Still in EDZ, it survived the opening...

Looking to reposition in these ETF's should we go lower later this week.

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