SELL TNA Aug $38 Puts @ $2.7
August 11th, 2009
Comments
Sold 33% position
Buying them back.
Reducing short exposure. Nothing more. Still short the financials and real estate.
Target Price for OIH is $99 – $100 in near term, and possibly $93 if there is more weakness.
Oil has been very stubborn in spite of USD strength. Any weakness in oil should create a big move down in OIH.
IYR has gone crazy. All good things come to an end… so definitely the bad ones do as well. I expect IYR to be below $35 in next week or so. This should bring URE down to $4 or so.
Holding this over the weekend.