RUT THOUGHTS

I Exited 100% of my long position on Monday for over 7% on the trade and then started shorting.

I was 100% short by the close of the 26th.

Today I exited 75% of my short position that paid 2.69% just today.. not bad as it looks to be better than +10% for the week!

Better than a sharp stick eh? hehehe :bowrie:

So my cash is earning interest over the weekend and I have 25% exposure for a little follow thru.

There will be more on what I do ....come Monday morning.




Here are my most recent posts below

Edited by Mr Dev, 29 March 2008 - 01:10 AM.

A different up close look....

Edited by Mr Dev, 29 March 2008 - 01:20 AM.

Good work cause I took the brunt of the little stick.

I did have two long biotech calls hgsi, vrtx, and brcm go profitable during that and sold them , everything didnt go down.

I wanted to be there for the IT trade and may prove to be useful strategy still, on a monday open.
but why take the pain. Next time I'll work a little faster, like a Friday high that should
be 1 of C.


[/quote]

Good work cause I took the brunt of the little stick.

I did have two long biotech calls hgsi, vrtx, and brcm go profitable during that and sold them , everything didnt go down.

I wanted to be there for the IT trade and may prove to be useful strategy still, on a monday open.
but why take the pain. Next time I'll work a little faster, like a Friday high that should
be 1 of C.

Hi AC,
Well if you made a little that's a positive..!

Not all our trades are big winners..we just need to respect overbought condition,..as we saw last Monday

until we can clear the bear market conditions. I have us in a bear market right now. I would hope that other traders here

are using a signal to tell them the same thing ..and not just their noodles!

I'm consistent with achieving big wins only because I use my brain not to think,... but to follow signals and conditions !

I see Monday likely to be,.. one of those 50/50 days. That is why I limited my exposure.

So because of our short term conditions with price and support in relation to the indicators if we dip Monday morning

I am willing to exit the rest of my short position,.. and start buying that dip....

I probably won't go much more than 50% exposure,..and if that becomes profitable by the end of day I'll probably

exit some of that position. But at this time I feel somewhat comfortable holding some Longs into Tuesday,.do to the short term indicator.

We could very well be into a bottoming process,..the RUT just needs to fill a little gap below and we should be good to go higher for a while.

If that convinces most we are free and clear for a bigger rally thru April/May .....listen close...I then expect a somewhat large and sharp drop in the markets

come May.

Meantime I will do my best to ride it UP,..and of course ride it back down for that sharp reversal,..by watching for a divergence this time,

in over bought territory!

Best :bowrie:

Edited by Mr Dev, 29 March 2008 - 12:04 PM.