Wednesday, August 5, 2009

Down Day Plan


Looks like the Stock futures indicate a down day. Some things to look at.


On a Down Day

1. Buy some stock or add to your position - but wait till the trend begins to turn up. Could be a couple of days for a strong trending market. Don't guess the bottoms.

2. Take some profit early.

3. Look to buy the Inverse ETFS
Materials UYM - SMN
S&P 500 UWM - TWM

4. Look to buy back some Covered Calls. Put Limit orders out.

5. Plan Rollups if in serious trouble on positions.

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