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SPDR S&P 500 ETF Message Board

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  • xtgeminiman Oct 14, 2011 12:51 PM Flag

    Morning Gap-Ups Are Killing The Shorts

    Yup. I shorted last Friday's open and last Thursday's close and my internet went out when I tried to close my positions at the end of Friday. I froze Monday during that massive gap open and figured the bears would try to keep the indexes below the 50 DMA.

    Yesterday gave me some hope but after seeing futures rise again this morning I figured I had to get out. At least I covered close to the low today. The volume on the leveraged ETFs (long and short) indicate that there's still a good amount of shorts out there although they do appear to be diminishing.

    I'm out for a while. I wiped out every single gain I had last week from going both long and short yet I feel like I'm down a lot more. My next investment will be alcohol. Good luck all.

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