My Life My Trade

FAZ sold @ 19.63

SRS sold @ 9.08

TZA sold @ 11.43

Target price is $20.50 – $20.75 (XLF should retest $15.00 area filling up a gap there – giving a 2% downside to financials and hence 6% upside in FAZ).

Not willing to hold over the weekend

Day-trade to be closed before end-of-day

DISCLAIMER: Nothing contained anywhere on this site constitutes any investing advice or recommendation. Any purchases or sales of securities are solely at the discretion of the reader.

Stopped out – no profit/no loss after comissions.

UPDATE Jun 25 2PM PT: Cannot over-emphasize the importance of using stops – This security ended the day at $4.82. In absence of a stop loss, it becomes very difficult to sell and it is easy to just end up selling it at the worst possible point. I am glad to have gotten out for no profit. I  could have easily ended the day holding a position that is 10% in loss.

DISCLAIMER: Nothing contained anywhere on this site constitutes any investing advice or recommendation. Any purchases or sales of securities are solely at the discretion of the reader.

BAD BAD BAD trade – I was trying to get fill for FAS puts right before close. I resisted buying FAZ AH, but eventually succumbed. I hope I don’t have to pay the price for this tomorrow. This is a smallish position – so, I should be okay.

It has been a long time since I forced a trade like this. Whenever I did in the past, I paid the price – almost always. I feel bad about breaking my rules on this one.