http://www.stockrake.com

I tweeted that I was cutting my shorts this morning and managed to take in 3% in the RUT and 2%+ in the NDX when the market printed its lows around the 10:45 price window. I was fearful yesterday of a bounce setup, but figured there would be further selling in the morning that would give me an opportunity to take my shorts off. These Rydex inverse shorts were placed last Thursday at the close. This particular trade was very good for a short term swing.

Intraday I took the first part of the morning off. Came back from the beach, and attempted a long trade. Actually I only attempted long trades after cashing in the shorts.

The SPY flirted with the breakout point all day long 3 times. I mentioned it in tweets what was happening. Then boom we cracked 106.09 for the 4th time and I knew it was on. Bought huge in the SPY 106 calls, near the close that made up for some intraday losses where I attempted to go long at the marked bullshit spots.

Currently in all cash waiting for more information to develop. Still like some retail shorts, the trend OVERALL is still terrible, but again perfect spot for a BS bounce to occur and the RUT was saved at an important point. Posted this after the close:
Hammer Time

Related Posts