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: 115.49 +0.03%) 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 [...]
I know…I sound like a broken record. I added 15% more near the close, paying $95.09Â This block was not added due to any system or known edge. Simply, I’m already very short, and the SPX is approaching a level where I will cover my shorts, accepting the losses, in order to not suffer anything [...]
On the afternoon of Tuesday, July 7th, the SPY had shaved two points from its value, and the SPX was going to close beneath the 200 day simple moving average. The bears were out in droves, marauding and eating pic-a-nic baskets stolen from frightened bulls.
In the comments section of Fly’s blog I remarked that it [...]
Everything I’m seeing in my screens leads me to believe the conditions are ripe for a bounce here. We’ve got multiple leaders and indices above their major moving averages, but in short-term oversold conditions. That is a recipe for some trampoline action.
Remember when I went short the SPY on the open? Some traders here (ack, [...]
After putting on my initial short SSO position Friday, and then doubling it on Monday, today’s action was quite a relief. I was starting to imagine how it would feel to have my first two trades of the year get stopped out. Instead of relinquishing control and giving in to my fear and emotions, I [...]
In the post The Return of Strategy Trading I presented an entry and exit setup from a system that performed reasonably well throughout 2008.
The chart above shows the entry day. The rules of the system dictate closing the trade tomorrow, on the open. As this stock can open without a great amount of liquidity, I [...]
Treasuries have recently run higher than ever before ( feel free to fact check that, that’s what I’ve heard). I took a stab at TBT about 3 weeks ago, and was stopped out. I was very very early. I am going to set an order on Monday in my discretionary account to purchase TBT again.
I [...]
