just added quite a few puts - with tight stop of 3 SPX points (just above HOD). Also added some more futures with same stop.
May do a long trade here as well if we are not able to take out the LOD and reverse just before reaching it (with stops of puts and futures updated to break even).
and got long again same position NQ @ 1692.25 lol - too afraid of seeing all my profits disappear again. Its ok if I stop out, each try is barely an SPX point.
definitely shows that you do not have to be a hero and short into strength - let the market drop first, then get in after the fact. Much easier to stomach. Since they are break even now - its like entering a IT position now after we have dropped 40 pts off the peak. You'd still have a good chance to profit from the move down.
The things I have learned during this amazing rally lol
Not quite sure. I would like this to top around 1049.50-1050.15 SPX. I will not initiate new shorts there, will wait it out to see if we break that range or not.
just so you all know, it pains me deeply closing out a short position, as much as I feel a sense of relief now. It really goes against my trade style.
The question you have to ask yourself - do you feel we will be below this level here in 2 weeks from now? I strongly think yes, even if that means that we have some short term upside. I should not be closing positions after they finally see some greens. I know being cautious is the right move ... and sam, as you had sad in the past - better to minimize risk at the expense of giving up some profits =)
just added quite a few puts - with tight stop of 3 SPX points (just above HOD). Also added some more futures with same stop.
ReplyDeleteMay do a long trade here as well if we are not able to take out the LOD and reverse just before reaching it (with stops of puts and futures updated to break even).
took a decent size long position here via NQ @ 1695.25 with tight stop.
ReplyDeleteI am too long very small position. LOL this is the best way to chase out bulls. If they see us long, they will exit fast with our track record.
ReplyDeletestopped out and letting the shorts run now =)
ReplyDeleteand got long again same position NQ @ 1692.25 lol - too afraid of seeing all my profits disappear again. Its ok if I stop out, each try is barely an SPX point.
ReplyDeletealso my LONG (very long) term puts finally turned break even after being down over 30% at the peak.
ReplyDeletedefinitely shows that you do not have to be a hero and short into strength - let the market drop first, then get in after the fact. Much easier to stomach. Since they are break even now - its like entering a IT position now after we have dropped 40 pts off the peak. You'd still have a good chance to profit from the move down.
ReplyDeleteThe things I have learned during this amazing rally lol
same here. my put are recovering but still in the hole. stppedout and long again at 1042
ReplyDeletecovered quite a few positions here, will re-evaluate after the weekend.
ReplyDeletewow just in time lol
ReplyDeletewhat is your bounce target here Chris?
ReplyDeleteNot quite sure. I would like this to top around 1049.50-1050.15 SPX. I will not initiate new shorts there, will wait it out to see if we break that range or not.
ReplyDeleteFYI even if we see some more upside today in the last hour - the High of day is in.
ReplyDeleteKeeping my remaining puts, have some puts I added today with stop at break even (close to HOD but with drop in VIX will be a bit lower unfortunately).
woah - that was quite a high tick just now.
ReplyDeletethank god I covered my ES earlier .... otherwise would have kicked myself now.
ReplyDeleteok reached 1048.01 - close enough to my target. This could be it and we stay between here and LOD till the close.
ReplyDeletejust so you all know, it pains me deeply closing out a short position, as much as I feel a sense of relief now. It really goes against my trade style.
ReplyDeleteThe question you have to ask yourself - do you feel we will be below this level here in 2 weeks from now? I strongly think yes, even if that means that we have some short term upside. I should not be closing positions after they finally see some greens. I know being cautious is the right move ... and sam, as you had sad in the past - better to minimize risk at the expense of giving up some profits =)
going for dinner now - this way I am out of control. No new positions, stops in place for some puts. Rest will run regardless of where we move.
ReplyDeletelol wow - came back from dinner to see this ...
ReplyDelete"I would like this to top around 1049.50-1050.15 SPX" we topped at ... yes wait for it 1049.27.
Got to pat myself on the back again for a nice call.