After a day of early strength and another fade this time we faded with gusto and it looks like route is on. Volume expanded, fear began to creep in and there was no let up after the bell. I'm a little disappointed that I didn't grab some of the shorts on the way down but these events have a way of unfolding quickly and today indeed was quick. I didn't try to momentum play when I wrote of the three options and instead was looking for a little bounce for a better entry. After that post, there was no bounce and it was down and out.
I dumped all my longs outside the metals and will have to start trimming there soon if they don't perk up. The metals bled all over my books today and other even with the good index trades we made early and the few shorts we have on the books, we didn't have enough firepower to stem those losses.
Hold your noses because I have a feeling this is going to get uglier before the skies clear.
I dumped all my longs outside the metals and will have to start trimming there soon if they don't perk up. The metals bled all over my books today and other even with the good index trades we made early and the few shorts we have on the books, we didn't have enough firepower to stem those losses.
Hold your noses because I have a feeling this is going to get uglier before the skies clear.
0 Comments:
Post a Comment
Links to this post:
Create a Link
<< Home