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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