Boy, am I glad for taking early exit on my shorts on Monday. Sometimes it's better to be lucky...
12/31/2012
First I did this:
XHB is setting up nicely. Started a position with easy stop under today's low. BOT: 26.20
Than:
I am seriously considering to close my QQQ short early. That would be "breaking the rules", cus neither stop nor objective are hit.
And finally:
Out of shorts.
(Including SRS at loss, and final piece of ZSL. Silver short runner failed, but total profit from "Silver Bullet" that started on 12/14/2012 here is quick 8% in 2 weeks. Good)
Holiday or not, if this doesn't fail - we have a valid reversal. A/D, VIX, bonds - all in agreement.
IWM strong, homebuilders(XHB) lead, emerging markets (EEM) didn't even blink, retailers (XRT) reversing strongly. I thought post-Xmas retail is dead, guess not.
I'm not doing anything today, but SIL is the one to watch
The day is not over, lets see what she can do
12/27/2012
This is Santa Clause Rally. No?
O, I know. This is sideways consolidation, because of Cliff. No?
Short squeeze coming? With 2.7mil cars on ES - there are no bears to kill. No.
How about 100 Samurai aka QQQ. This chart is a BBands madness, but I see a brick wall resistance at 66 and no strong support.
Inflection point? It does't get any better than this. Yes.
Short via QID at the moment
Later that day I bought EEM @ 43.50 without any specific reason. It was just stronger than anything out there and I had too many shorts. I wrote here (link):
"Buying EEM. Stop under 43.
Lets see what she can do"
No comments:
Post a Comment