We are thinking along the same lines, bottoms take time, and we play the bounces along the way(really good bounces).
DUG is rocking today, and my bottom play in oil is ~$52/barrel, soft target anyways with some fibs #'s. Oil will swing until we flatten out.
More upside left today, I still expect to hit some sell targets, and some buys in the Ultrashort ETF's, I've bought some TWM and FXP(still more pain) today, but no SKF and DUG. I also bought Puts, and some mild calls on the ultrashorts.
LVS, DRYS, and FSLR are cranking it today, LVS was a bagger for me, I skimmed 10% profit, capital removed, and riding dirty with the rest(Roth play), and the rest of the long stocks I bought last week and Monday, I'm 60-100% gone. I have too low of an average in some BIG names(AAPL, FSLR, POT, WFC,V, MA) to sell all of them, hard stops are set, and I'll scale out of them with down action. :( All my Nov calls are on freebies now.
Oct was VERY good to me, I love the swings. The next 2 weeks will be lighter trading for me, I'm heading down Under, I have a 950SE(double and single track) with my name on it, and will get in some Diving, and maybe 1 day of flying(trike and/or free flying).
Take care, and Rape Profit
Good day Mate and I hope the 950(6 days) does not kick my $ss, I'm still not 100% from the last time I got Bent. :)
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