Friday, June 26, 2009

Another Miss

Missed my long play today by one point. Looking at this range and the previous days I would expect 2 scenarios.

1) close right around 927 with a rally starting at 3:05
2) stay within the daily range and get a close around 922 with a last 10 minute rally of a few points

Do not expect any more downside for the day today.

If scenario one plays out I will start to get back into my shorts here right at the close.

SRS, SKF, SPY puts and my first future IT short position.


  1. high probability of scenario 1 being in play here. A few more points.

  2. another point up and we get lots of short covering right into the close. Break of 922 will give 927 even with a few minutes left here.

  3. Chris, it looks scenario 2. are you going to wait for next week to buy shorts?

  4. getting shorts at the close today. 30% or so, will close out right away on Monday if we do not gap down. Not quite sure if I want to go in via futures unless we hit 926-927 today.