Monday, August 24, 2015

Wild Monday Results

I sold YANG and SMN. My latest trade results are

YANG  28%
SMN    16%
THLD  still short up 6% right now

Shanghai basically crashed in the Chinese trading session so by early Monday morning my YANG was up over 20%. I was up about 7% at the end of Friday. While most investors and amateur traders were panicking over their long positions held over the weekend I was only worried about making sure I got a great exit on my short ETF's.

Seeing how volatile the US futures were pre-market and how Asia had traded I was about sure we would hit Circuit Breakers  on the exchanges. SPY was very very jiggy in premarket around support. The bid and ask were flipping and going nutz. So fast. I remember clearly trading back in 2008 and how just a 7% drop on the whole market triggers a stop on the exchange for 15 minutes. I really hate it and it just causes more fear and chaos going against its supposed purpose. I mean look at how stupid they have been in China the past month with theirs.

I traded both of these ETF's in my Fidelity account. I have never had any trouble with fills with them in the short time I've been using them. I also have a Tradeking account. Fidelity was horrible Monday morning with both my orders. They never showed up as processing or anything. They disappeared for atleast 15 to 20 minutes! I couldn't even get a second order in because there was a conflict with the ghost orders I had just placed. So I could do nothing but watch as everything rallied after the open!

 I actually had to pick up the phone and call Fidelity to try to liquidate these positions. After being on hold for 5 minutes all of a sudden the orders finally showed up on their site!! For their sake I really hope it had something to do with the circuit breakers stoppage that triggered after the open. I will just stick with Tradeking for trading for now while the VIX is so high.

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