My Lucky Break

Caught a lucky break in one of the Citigroup (C) preferred shares today and getting on the top performer list. Well deserved though in my opinion. I think with the way Citigroup and Bank of America (BAC) is trading lately there are a lot of opportunities in the preferred shares. BAC has the BAC class preferreds and also the BML class. Might also consider a few other financials with a lot of different preferred shares. My main concern is liquidity since preferreds don't have as much volume. I need to go in early in the morning and set up my playbook for this.

I considered breaking one of my rules and go play video games and I was glad I didn't b/c I increased my profits by another 50% for the day. I should've flipped to more bullish towards the close but I didn't and took a small hit but it's ok.

Still would like to see myself refine my entries more on the ultra short ETFs; maybe adding liquidity more instead and having a clearer defined entry, profit & loss target out.

Blockbuster (BBI) announced they were considering filing for bankruptcy. Immediately I wanted to make a play on Netflix (NFLX). I got long and then after it broke support towards the close I shorted it. NFLX has such a high short interest and if people were to cover it would run it up so much. I think it's somewhere in the high 60's percentage wise. I could've done better w/ the trade still though. Getting in earlier b/c of my conviction and holding on to the winners better by giving it a slightly larger and more reasonable room to work. Judging by the NFLX reaction towards the close I wanted to get long BBI but it has been halted for a while by that time.