I sold out of my $QID position in full. After technology has rested for the past few weeks, and is now moving higher today, I am unable to justify holding that hedge.
I also bought a 3/4 position in $MSTR, based on one of the most historically accurate features inside The PPT algorithm.
If you are caught heavily short right now in the market, remember that there is nothing so terrible about being wrong. Rather, staying wrong is usually the genesis of the major losses that traders suffer over the course of their career. The market simply does not want to roll over, and barring any major reversal it looks as though the bulls have finally conquered 1150.
All trades are timestamped inside The PPT.
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TOTAL PORTFOLIO:
EQUITIES/ETF’s: 54%
- LONG: 50% ($ATPG $CRZO $CSTR $GS $HMIN $MSTR $TIE)
- SHORT: 4% ( long $DZZ)
CASH: 46%
Sometimes it’s easier to be wrong than right.
Well said Yogi.
dumped my SH as well
nominally long via AMD
sitting in heavy cash, waiting to be an asshole dip buyer
Indeud.
looking at TICC
Thanks Chess!
Wood’s Power Dip caught this one big time.
I have only two position left in that, which I’m trying to get rid of at the exit threshold.
Also, I sold my TA positions for a nice gain. And I thank you for one of those, namely RIG.
So it looks like I’ll only be left with my long term PM positions, which is very sweet indeud as these usually can withstand a dip in equities pretty well should one occur.
So should the market keep it up, I’ll be waiting for the next dip to load up again.
Right now I’m a happy camper!
Great job Hawaii!
In trading, “being wrong is not a choice, staying wrong is!”
A sentence I pasted on my screens.
Love reading your posts, chess.
Thanks!
I see you are still holding DZZ…are you waiting for the dollar to bottom or just holding to your typical stops?
Just wondering if you are not ready to call that one wrong or staying wrong.
Still holding my shot/long pairs trade ABX/PAL but it’s netting flat.
Yup, holding it for now.
Great advice, Chess. You might want to spend some time with your friend The Fly. I’m worried about his mental health. Just check on him, make sure he isn’t mixing his meds. I want to see him win this epic battle!
Keep up the great work!