ES Journal - 2013

reduce 80.75

 

Need to get under 1666 today for a good gap and go. Looks like it might happen into the close.

 

Cover remaining at half at 80.5 if it can get there again.

 

out on rest 83.75

 

Short 82.25, exit end of day.

 

Just to update my trade. Covered another 1/3 of the position at 1682 netting 17 pts. What was a disaster trade turned into a nice winner. Holding 1/3 left for a while here

 

Modifying order to cover to 67.5.

 

Went through the top holdings the make up and have been the largest contributors to the advance of the r2k, tf, iwm. The overwhelming majority's floats are between 90% and 100% held by institutions or funds. Takes very little capital to move the underlying componants and the index.

 

s 84.25
stop 88.25
t 77.25

 

SPX weekly bearish turn, does not look good for bulls coming into October.