Just a quick note this morning as I get my positions for the day entered. I’ve set a hard stop to buy-to-cover my [[SPY]] short. Yesterday evening, and this morning (when futures were up) I fully embraced the pain this position was causing both my psychology and my account. The losses now have a firm value attached, and they are still within acceptable limits (I wouldn’t have allowed it to be any other way).
I did not have time last night to run any studies, so I’m flying blind in regards to any short-term edges after a move like yesterday. The plan is simply to see if I get stopped out or not. If I do not, I may begin to trail a stop as early as this afternoon.
I am entering into four small feeler short positions in individual equities. I still refuse to buy this market and will continue shorting small amounts until my losses cause me to shut down for a few days and re-evaluate, or until their is a pullback.