Close 'em Out

It's quite a mixed bag of gainers and losers today. DNS +52, -6, +1.

FRO closed up 18.6% after being considerably higher. HL closed up 9.2%.

SPRD got clobbered again for another 9.9%, and that's after it recovered some. I was sitting on a 51.5% gain (less comms) two days ago, now I'm down about 40%. SPRD is pretty volatile so a few good days could get me back ITM.

I felt like most everyone has been ignoring the elephant in the room that is Europe. Something is going to hit the fan again soon and I wanted to be in cash or short.

Trades:

I chose to close out my MCHX call options with an execute and sell order, +5.20%.

I sold my $20/$22.50 FMCN call spread while there was some value there (FMCM closed at $20.34), -25.2%. It might have recovered by the 16th, but not if the tide goes out. I'd rather have 75% of my money than none of it.

I went short with XLF (Financial Sector ETF) puts.

Reversal alerts: (3).

MEDW, PRFT, and GR. Pass.