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
Covering 1/2 of Short ES
Started by
IndexTrader
, Dec 22 2006 09:45 AM
2 replies to this topic
#1
Posted 22 December 2006 - 09:45 AM
#2
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
Posted 22 December 2006 - 10:21 AM
Thanks Cirrus. Actually if you will recall my entrance was not so hot. 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