Like I mentioned in my recap yesterday, I was unable to trade the whole day so I basically took the opportunity to catch up on my sleep in the morning instead of trading.

However, I did catch the last hour and saw the weakness in that period as a sign that we may need to pullback a bit here. I purchased SKF which is the UltraShort Financials ETF. 300 shares at $100.90 to be exact. Now if you glance at the rules in the right sidebar it says that I shouldn’t hold more than 100 shares of any security overnight.

300 shares of a highly volatile ETF like the SKF is certainly something I don’t want to make a habit of holding overnight. I think I was a little disappointed I didn’t trade today and wanted to make up for it. Also, tomorrow I have some other stuff going on in the morning that will interrupt my day so I am hoping to bank on this trade and call it in early.

Anyway, I am pretty confident we’ll trade down tomorrow and view the big 200 point rally today (at one point anyway) as options expiration excessiveness. Hopefully my thinking doesn’t come back to bite me in the ass.

I’ll be up bright and early tomorrow morning. Till then.