I forgot to mention one thing in my last post about RMBS trade. After I shorted RMBS and it started spiking up and market was also going up dramatically, to hedge against my position in IB, I went long 400 shares of RMBS at 9.5 in my TOS a/c to hedge against my IB position.
So far here’s what I have done:
1. Closed RMBS in TOS at 9$ for 220$ loss.Covered my RMBS in IB at avg. price of 8.72 for gain of around 100$. Net loss of 120$.
2. Covered PALM at an avg. price of 7.31 for total gain of 200$.
3. Shorted HIG at 7.3 (only 250 shares), covered at 6.79 for gain for 120$.
4. Shorted 1000 SFI at 1.35, covered at 1.25 for 90$ profit.
5. Shorted DRYS at 3.8, covered at 3.79, loss of commissions.
6. I shorted 500 CAB at 7.7, covered at 7.64 for a small gain. I reshorted 500 CAB at 7.51 and covered by order entry mistake at 7.74. Again shorted 1000 CAB at 7.71
7. LONG FAZ from 60.5 to 61.52, gain of around 49$. Currently LONG FAZ 150 shares at an average price fo 62.21.
I will update this post again at EOD.
I fucked up. Couldn’t take the pain of FAZ tanking, got out at huge loss wiping out my mornings gains. In total, down by 1332$ for the day!
I am still holding my CAB short. I am currently down on it by 400$ but I think it should come down in day or two.
Well, what would you know, FAZ moved from 50 to 56 in last 30 minutes! I need to start fresh.