I just finished my first 30 minute 1-on-1 chat with a Trading With Cody Lifetime Subscriber. The 100 slots are going fast but there are a still a few available. Click here to learn more Trading With Cody 4 Life.
Long-time subscribers know that “Trading” With Cody can be a bit of a misnomer because we mostly just try to invest in great Revolutionary companies and hold onto them for the long-term (and we try to short crappy companies in declining sectors too). But when the markets get a bit crazy and/or I see opportunity, I do step up my trading a bit.
Yesterday in the Trading With Cody Chat Room, I’d answered the following question:
Q. Thanks for Trade Alert last week telling us to buy puts. What is your feel about market short term ? Do you think sell off is not done ?
A. Feet to fire, I’d guess we rally 1-2% tomorrow and/or Wednesday from these levels. And then another 5% whoosh down perhaps. And then sideways for a few weeks.
And here we are with the markets up 2% today. I’d also noted yesterday that I might buy buy some puts at lower strike prices after we trimmed some yesterday. So here’s what I’m doing right now:
I’m nibbling a few IWM puts that expire in March with strike prices at $144 to about $148.
I’m also going to trim about 5% of my Nvidia, Facebook and Sony, as I’ve got 300-600% gains in those stocks and I’m thinking it’s a good time to just lock in a little more profit on them and add a bit more to my cash cushion.