Tuesday, November 10, 2009


guys - I just wanted to say something. You cannot imagine how much I have to hold back going in heavier here on the short side - yes we have the risk of more upside. But if there ever has been a time to risk being short.

Ultimately I agree the probabilities of higher prices are very real - but regardless of whether this is a bull or not. We have a very narrow risk margin now when looking at 4+ week positions. Even if the trade does not work out you are within 1-3% (10-30SPX points) of the key upper ranges.

I am holding back here - the old Chris would have gone in much stronger. Believe it or not I am happy not being the old Chris anymore. Yes we have a great opportunity here but its all about managing risk and preserving capital.


  1. should retrace to es 1091-1090 for good short entry to es 1080. I think then we move up top new high