The Party Continues

Stocks rallied on the G20 comments and the change in FASB mark to market rules but somewhat less so as some financials were down on the day. We nearly reached the target of 850 today like I had thought may happen.

I am kicking myself on two fronts. One, I didn't take any of the day trades, I wanted to just buy the open which would have done nicely. I was scared to pull the trigger because I have done that before and taken away the profits of my longer term positions and just felt like I set myself back. Two, I didn't get into RIMM back at 42 when I had looked at it, because it will likely open up near 60 tomorrow gapping 10 dollars after hours off earnings. Oh well, I'll look to buy on a pull back. Patience is key.

My positions did well today, outperforming the index however I am slightly concerned about my ACH position. It was up 8% but came well off its highs to finish near the lows at the end of the day and didn't hold on to its new high above 17.30 which was essentially rejected. At the highs of the day I took on two put positions to basically make myself 3:2 long biased and have some downside protection after such a large run. The execution was perfect in terms of timing but the relative weakness plays weren't as weak as I had hoped so the hedges didn't work like I wanted. The important thing is that I have the hedges in place and have some downside protection because in reality we have moved very far and very fast.

Depending on what happens tomorrow I'll position myself accordingly ahead of the weekend.

Total Return for 2009: 92%