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I used the dip in the futures from Google's disappointing earnings to cover the balance of my net short position. I am long AMGN and EXC and short SPY against them. I am now market neutral.

7 comments:

Anonymous said...

I thought GOOG had good earnings.

Oh well, AXP blew em out and GE is up tomorrow morning.

Anonymous said...

I feel like a fugging hedge fund.

I think if I had like 100 mln I can do some serious damage.

Anonymous said...

Mate, any reason why you always go short on SPY, I have not seen you going long on SPY. please share your comments

Anonymous said...

"I am long AMGN and EXC and short SPY against them" Is it called hedging? How it works in terms of %$ allocation

Tsachy Mishal said...

I am short an equal dollar amount vs my longs.

Tsachy Mishal said...

I like to go long individual stocks because I think I can outperform the market. On the short side I am not as confident that my picks can outperform in the time frame I am looking at. Sometimes I do short individual stocks but more often I just short the index.

Anonymous said...

Thanks Mishal, Reason I was asking because Index 1% down can make stocks down more than 1~5% down. so I am curious how to allocate %$ to hedge against position.