Monday, June 22, 2009

Closed some positions

Closed all of SRS and SKF. While we can expect more downside we are too close to important support of XLF and IYR. Will re-add on pullbacks if we cannot make a move here to the upside.

ES limit order long @ 895.50 with stop @ 893 (day trade), expecting 10 points out of this move towards 1:30PM EST.
Posted by chaugner at 10:41 AM

5 comments:

  1. samamehtaJune 22, 2009 at 11:50 AM

    are you long ES 895 now? or you expec it to go lower? thanks

    ReplyDelete
  2. chaugnerJune 22, 2009 at 11:53 AM

    yeah long via ES ... 894 avg with stop at 892. Not feeling too good about it heh.

    Tick today is incredible on the downside. TON of selling going on here. However, we have leveled out a bit in terms of price so I expect at least some sideways consolidation or a slight rally for around 4-5 pts before attempting to downside again.

    ReplyDelete
  3. samamehtaJune 22, 2009 at 12:02 PM

    I see pos. divg. 894 is the max down in this leg. i.e. ES 890-891. we should get a bounce to 905-907 a good new short entry.

    ReplyDelete
  4. chaugnerJune 22, 2009 at 12:05 PM

    stop just got hit at the LOD lol ... where is GS when you need them?

    ReplyDelete
  5. schismaticJune 22, 2009 at 1:03 PM

    If not for an FAZ hedge I took eod on friday, I'd be a very upset gentleman. Still stings nonetheless. Good to see the bears back though, I must admit. Just trimmed some FAZ, and planning on trimming a good deal of longs on the next respectable bounce. WELCOME BACK BEARS!

    ReplyDelete

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