2009-03-27; 14:38:19; Alert:
Today is the time to go for overnight short. We will short the close if the price is higher than mid-day high of 825 by approaching close. If price is at current level or lower, we will buy back some of the put options which was hedged as delta neutral.
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2009-03-27; 11:48:44; Mid-day comments on SPX:
So far so good as we expected. It is possible a big drop anytime but no one knows exact time. Only a piece of bad news will trigger the sell off or roll over under its own weight. Well, if indeed that happens, someone will say that it is this bad news caused the sell off. We shall see.
We will start to enter the small overnight short position late today with stop and set another short at a bit higher level if day high does not over 837. Those of you may start to take small overnight short position too if you can handle the possible short term loss.
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