10/8 Day/swingtrades

That was a true roller coaster ride. Maybe this is a contrarian indicator but I'm starting to think we may just head straight down without a rally. Everyone is looking for capitulation but the problem is that the hedge funds are facing massive redemptions and middle-America is moving their money out of the mutual funds and into cash. Aside from day/swingtraders, no one wants to dive back into the markets. The Fast Money guys are discussing a potential "rip the face off the shorts" rally. I say what shorts? We just dropped 1000+ points with a short-ban in place! Anyways, we'll see how this plays out tomorrow.

I made a few trades the past 2 days but net-net, I've been getting chopped up.

10/7 - GS, stopped out of Monday's remaining shares @ 117.50...$1.00 profit
10/7 - OIH 125 Calls, stopped out in AM for $1.00 loss
10/7 - Picked up UAUA 12.5 Puts and sold for $0.70 profit as it dipped to 5.00. Nice call last week on the airlines, Darwin!

10/8 - C, picked up $1.30 after it moved out of the base at $14.00 along with the rest of the market
10/8 - AAPL, picked up Oct 90 Calls as the market rallied and stopped out late in the day for $1.00 loss
10/8 - LDK, picked up shares @ 22.30 and stopped out @ 21.40.

BTW, want to make 60 points in one day? Follow this trade and then go get yourself a heart monitor with your profits:

Buy SKF puts this AM @ 150 and sell them @ 136. Then go long shares @ 136 and take it up to 150 again...then switch back to Puts and ride it down to 134. Lastly, go long @ 134 and sell @ 150 at the close.