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Covering 1/2 of Short ES


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#1 IndexTrader

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Posted 22 December 2006 - 09:45 AM

Covering 1/2 of my short ES at 1423.25....kind of a Christmas bell ringing if you will, of 12.50 points profit on that half. IT

#2 Cirrus

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Posted 22 December 2006 - 09:48 AM

Gotta cover at least some on weakness until a downturn is confirmed IMVHO--great trade including entrance and exit.

Edited by Cirrus, 22 December 2006 - 09:48 AM.


#3 IndexTrader

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Posted 22 December 2006 - 10:21 AM

Thanks Cirrus. Actually if you will recall my entrance was not so hot. :lol: By the next day we were trading almost 10 points higher after that CPI news! Looking back on it I had targets right in the 1430+ area of SPX....that would have been ideal had I waited. Unfortunately, I had no confidence that it would actually get there...and so I jumped the gun. But as they say, all is well that ends well. As to the exit...we shall see. If I thought it had no more downside I would cover everything. But right now I think it does have downside potential...just a little overdone short term. IT