Tuesday, October 26, 2010

Position Update

Update: not waiting for stop, closed the shorts.  Why?  USD significant move up, X bad news, and market holding flat while momentum flying.  Why? The increasing possibility of a sideways basing under the weekly 200SMA and break through instead of a pullback.   All flat in all accounts.

As we wrote in our blog last night we came into today short TNA SSO SPY.   Usually we would have covered the shorts into today's gap  down but since we wanted to go long near the open (newsletter long alerts MOS NFLX) we decided to keep them on as hedge, especially since it is only a 1/4 position left and we have cushion in all three.  We are now out of our day-trade longs MOS NFLX and have placed stops on all of the shorts on a move through SPY 119.1