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Took a shot at the short side and it ended up being a face ripping rally. I came in this morning long iwm, spy puts and heavy short index 2x funds as well as long certain stocks, but was leaned more towards the short side. Signals, not the good ones, leaned that way for a pullback. Instead they blew it up. I cashed out of those, but not the index funds. Only because I missed my window due to talking to my friend. It might work out though.

Its not all bad, but it still doesn’t make up for the losses just cushions the blow. My stocks did fairly well today. I did some new buys today:
Back into ERX, DBE, UCO, had REA in this acct already which has done well. I also bought junkers BBX, and MRVC.

One of the mistakes I made with this trade was to remove my gold and oil exposure two days ago. MISTAKE. Oil and gold names made new highs. This is how it works and why its problematic for me. I don’t really follow my systems to a T. I need to.

You probably wouldn’t believe me if I told you my system went long in March of 2009, and went short early Feb 2010, then finally giving a new buy signal in late Feb and has been long since.

I haven’t profited the way I should have. One thing that is problematic when you don’t get on the train from the beginning you will forever try to play for the small peanuts instead of the big money. The assumption is that you swing or trend trade.

Thankfully oil and gold hasn’t run away yet and I was able to get back on that train.

I have picked my spot to short, wrong as they may be, I haven’t been short many days, its just doing in this current trend has been a waxing.

My junker portfolio is up about 20% the put options I sold this morning lost anywhere from 40% to 50%, I know it sucks, but thats life, you move on. Also sold my HAL calls for 20% just to raise cash for the other energy buys.

Typed this on my iPad so not sure if there are any errors, might post charts later from the laptop.

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