Me, and I have another position from higher above. Current average is 1241.25 on 2 contracts. Both times I wanted to settle for scraps gains but my work and IB webtrader closing sessions (what the hell is up with that?) kept me from monitoring my trades closely, as this day surely required it. Boy what a brutal day, I should've stayed jawdropped and watch the carnage instead of being eager of timing my catching of a falling knife. Not too scared about my position (I have a short hedge on ETFs in another account), but not exactly ecstatic about being in a losing position either. Was tempted to place a limit order on 1246.25, but this after-hours drop has me pondering.
999999999999999999999999999999999999999999999! 3 day one way theory make me leary of shorting. Usually by the end of 3rd, the dumb money is selling " ie shorts piling on" Maybe this time is different. http://finance.yahoo.com/q/bc?s=^GSPC&t=5d
Why should I have to remind you when you already know how to use it ? Yet people still continue to fight the trend.
Canceled all orders. Going to sleep and am planning to be up for the employment numbers, but we will see.
Orders bracketed at 1230.25 and 1216.00. Hopefully we can end the week on a positive note. Results 9/4/2008 1 contract +5 1 contract +3.5 2 contracts -3 2 contracts -3 -3.5 points total x $50 = -$175 6 commissions x $4.8 = -$28.80 Total for the day = -$203.80 Total for the week = -$926.80
Filled. I expect a stop out and a gap fill but I'm trading the system and not using my discretion to not take this trade. Edit: wow strong selling in the 32 area. Edit2: full stop out.