I borrowed five hundred DRYS to short at around 8:30 am. I shorted 100 of it pre market, around 9.25 am.It immediately gaps down about 5 points. So why didn’t I short the whole 500? Partly because I’m an ass, but mainly because it’s wicked volatile and i usually ease in to a name like that, especially that early in the day. I never trade that early, but I had a feeling. In my mid day post I was actually long the name at $99 and kicked it at $101. I also traded the other two , UYG and QCOM, but only made pennies.At that point in time I was positioning myself for a rally but shortly thereafter the market started to cave. I finally got stopped out of USO, it was a good contest, but I lost. CCJ from yesterday was a bull today and TIE gave back a bit.
Some names I watched today that showed great relative strength and that I will be looking at tomorrow are PACR,JRJC. I think QCOM is getting close to near term oversold as the selling started to look exhausted today.
I will try to post up some charts later, but it may have to wait until the morning. Hope you all had a great day.