16 replies to this topic

[A-ha]

closing the rest of the qqq and iwm and shorting futures with this closure i will have no ETF position left, all will be in futures. i am overall up more than %50 on those SPoos, NQ, and ER2 that i shorted at the top of the bull market i will be utilizing this capital gain as well as the buying power from the closure of ETFs by shorting more NQ, ER2 ... After the first significant snapback , I may close some NQs and lean harder on S&P prhaps Dow as the selling should spread towards safe havens in later stages i am still keeping semis and other individual stock shorts, and i will till i drain the last drop out of them

Edited by xD&Cox, 07 March 2007 - 04:14 PM.

[greenie]

What timeframe are you looking at - both for shorting more NQ, ER2 futures as well as Spoo/Dow ?

[A-ha]

At the moment I am covering to take advantage of the dip. I think there may be more upside, I will short futures in coming days. When I short , I will give my entries like I did before. I like to see VIX around 13.5, SPY 141 to start shorting futures

Edited by xD&Cox, 07 March 2007 - 04:24 PM.

[greenie]

How will you play, if the bounce is over? Will you wait for the next chance or chase the market? Just curious - I am not saying the bounce is over or otherwise. Not experienced enough to tell it so precisely.

[A-ha]

If the bounce was over, we would have seen midcaps cratering today... But they didn't. This means, they are still in oversold bounce mode. However it is getting ripe as evident from the weakness in NDX and SOX. The reason SPX sold off at the close was a trend line test. If I am wrong and if it goes straight down from here, I will not chase. There will always be another time. We will have great opportunities to make money on the short side

[selecto]

I'm sort of musing that we might make a lower low in here, do some kind of tradeable retrace, then turn down into the fall. Way too far out for the way I trade, so its just a thought.

[jawndissedi]

One ETF you might want to consider adding (going long) is FXY.

[arbman]

xD, how are you hedging the futures positions? It's been always hard to open large futures positions for me, too hard to balance for me in case things don't go as planned. I find it much easier to trade leveraged with the options, although it has its own rolling over etc related inefficiencies... TIA -kisa

[greenie]

in case things don't go as planned.

In our village, there is a technology for that - it is called 'stops'

[SemiBizz]

I stepped out of QID 2 days ago and sold my QLD today. So I am flat as well. Today was a mixed-signal day. When you don't get a clear trading signal that gives you a confident feeling to stay in them it's time to pull them, especially when you have a big profit.... I'm waiting for better risk/reward setup.