Tuesday, November 1, 2011

Covered Lulu Short

In today's market plunge, CCI covered the short position in (Lulu)  realizing a 4.8% gain.

Frankly, a lot more profit could have been made shorting several other vehicles (i.e. financials) over the last few days. However, any gain in a sea of red is still a profitable hedge.   Lulu remains on my watch list to potentially short again. Perhaps by reinvesting this gain in a short option strategy.

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