SSO - Position Update
Written on February 13, 2009 – 8:58 am | by admin
This morning I sold part of my etf position in SSO that I had bought at $21 & $22. I sold the 7 shares I bought yesterday at the day’s low around $21. The market wasn’t acting the way I thought it would (rally from the start, it actually looks weak) so I decided I would take my 5+% and I already put in an order to buy at $21 should it get there again. Eventually I have the idea of making this a full 100 shares and starting a covered call position. However, if I keep buying at the bottom and then it rallies 5%, I have to sell. I have to take a 5% profit in a day. It would be irresponsible of me if I didn’t.
Tags: Dollar Cost Averaging, ETF, SSO
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