On Monday I purchased some put warrants on the Hang Seng Index. By the end of Monday, I was up more than 20%. Yesterday I watched about half the gains evaporate as the market rallied. This morning I took what was left of Monday's paper profits and sold the position. I ended up with a net gain of 7% in two days. This is a nice rate of return (although on a very small amount of money).
I am not sure if I want to make a habit of making short term speculations, but it was fun.