1. The GS calls do not act as a proper hegde, hence closed out the option position. (Miscalculation on my part… either I had to add more puts or get rid of the calls, so I got rid of the calls.)
2. Took my profits with F. Could be a good long-term story here, but I was playing it for a trade and got my quick 12%. Can’t complain. But I will be watching it to trade it again. (As for the long-term thesis, the play is not for the health of the auto industry. It is a play to get F back to profitability, and a healthier company. Which is a very real reason a stock can go much higher, especially one whose company recorded $127B in revenue.)
3. GOOG - I shorted GOOG due to its technicals in the AM. It broke its high momentum support, and may break down to its next technical support at 380. (will cover at 380)
If the SP500 see the low/mid 800s GOOG will retest the 360-370 range.
