Staying as is.
- Closed out futures (after seeing that drop after hours would have liked to have kept position but taking profits after a break of 920 SPX was a good move)
- keeping all positions (all bearish)
- no hedge
That rally there at the end really was quite a curve ball - but what else can you expect here. To be quite honest, no idea where we going to head for Monday/Tuesday. We are nicely bound by 930 and all my shorts will still be profitable at that level (barely). So I am glad to be on the outside of the range there.
Otherwise, of course looking for the 894-895 level first. Once we get there, we will have to see, if we manage to stay above 900 until Wednesday I see more upside first and possibly a new high. We will have to see.
Have a good weekend everyone. Relax and get rest for another crazy week.
Thaks Chris. when you say a new high you mean above 956 or the recent high of 930?
ReplyDeletevery small probability but since I am into a lot of shorts now I have to consider it. There is a chance to get to 947 again and reverse from there, but from a big picture perspective, a break of 930 will indicate new highs to me.
ReplyDeleteIts quite difficult, of course, the most obvious one is a visit to 890 first. But as I am into purely one sided positions now I have to play devils advocate and make sure I am not getting caught with many shorts in my account.