SSO - Close Position

Written on January 29, 2009 – 12:50 pm | by admin

For those that have been following along, you know that I have been trying to average into an SSO position as the market moves down.  Last week I bought 6 shares at both the $21and $22 levels.  Yesterday, I sold them as the market ripped higher.  I sold them at $23.88 and since Zecco has no commissions, I netted the entire gain.  While it was only a $28.56 return, it was still over 11%.

Since I still don’t want to commit to an entire SSO position at this level/market feeling, I have put limit orders back in to buy more at the $22 and $21 levels.  I still have orders in all the way down to $14.50 (should we get there).


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