Liquidity crisis!
added another $5,000 to the account. another margin call ;(. funds aren't reflected yet. this is a convo between me and yin last night:
yang: im just worried about margin calls tom
yin: damn man
yin: whats ur avg price
yin: u only took 5pt
yang: yea
yang: lol
yin: thats some dangerous shit dude
yin: u not afriad at all?
yang: na
yin: jesus
yin: what if it goes against u
yin: what would u do
yin: WWTD
zyang: liquidity crisis
yang: lol
yang: prob inject 5k?
yang: ask for some foreign investments
yang: sell some convertibles like leh an dhope it oversubscribes?
yang: lol
anyway while i was asleep at 6am, the ES dropped to about 1363, below my avg of 64.5. missed my cover chance! it opened against me this am at work, i was quickly down about 1 grand for the day. i believe i was down almost 2 grand too. then in the late afternoon started dropping. i covered one contract (limit buy) at 63. that was the low for the day so i caught that one nicely. news today: paulson argues that the recession won't be that bad; bernanke warns of a possible recession. nice contradictions.
BBY's earnings were not as bad as expected due to laptop sales. opened up to 45.8, from previous day's 43.47. scared that crap out of me. 1) i have a NAKED call on bby, and 2) shows that the US economy is freaking resilient. good thing that sh*t traded back down to 43.94
anyway im still short 3 ES overnight again. hope it drops a good 10 points so ill earn a few grand.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment