Who wrote this article?

Deepak Shenoy, Capitalmind's research team.

SOS Update: +30K but big rally takes away profit

6 Sept 2008Deepak Shenoy1 min read

Quick Facts

What is "SOS Update: +30K but big rally takes away profit" about?
What category is this article in?: General
Who wrote this article?: Deepak Shenoy, Capitalmind's research team.
When was this article published?: Published 6 September 2008.
How long does this article take to read?: 1 min read
What topics does this article cover?: ShortOnly

Here’s the latest on the Short Only Strategy:

A huge rally this week took the current position to a mark to market loss, but we have big profits booked last month that keep the strategy afloat. I am not taking on new positions despite a large fall on Friday; I’m not yet convinced we’re good for a longer term short.

30K is the current profit figure, most of which came in through puts last month. I should be buying puts even now - but for some reason I’m not comfortable with the current situation.