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Wednesday, March 10, 2010

Best Trade of 2010 so far

For those of you that know me, I have had two anchors in my trading, double and triple short funds, pretty much for losers, and the other short DECKERS (DECK).

On Feb 25th, I bought some Deck calls as a hedge against losses, 10 of them for March 125 strike. As of March 8th, I was up over 1,700% on the remaining 3 I hadn't yet sold.

1,700% in 8 stock trading days, not too shabby.
Here is why I am sharing, I have lost more than I care to write on this blog shorting deck. So this trade is extra painful, that my most profitable trade was AGAINST a primary position. Ohh the irony is too funny not to share.

The trade below will remind me when things are going well in the future, to not get too full of myself. A painful reminder of need to be more open to exact opposite trade is just as valid a play. A luck-shot trade as protection AGAINST my primary position. Laugh at me the next time you see me.

From WebSufinMurfs FinancialBlog2

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