I want to thank the longs for tomorrow's donation. I plan to spend it on booze, blackjack and hookers... on second thought, let's forget the blackjack and booze.
Been expecting that. I will look for entry tomorrow if we finally break this counter trend long. Getting out was more of a gut feel that we are going to ramp up above 2600 before heading lower. Knowing the way this has worked out in the past I will miss the boat on the trade down to low 2500’s
I was wondering about your rationale for exiting that short as you seemed to had accumulated a very nice position for a swing short and one where you could utilize a relatively tight stop. Not a prediction on my end as I don't know too much about daily swings, but I could see us at least retrace a bit from here.
Now that we have broken 79.5, I will look to get short again on pullback...that is if I get a chance! Like I said, probability of this happening are low based on my past experience.