I'm sure you know your risk. Better than I know mine I suspect. I see VERY little chance of this market being good though. On ANY time frame beyond tonight.
call of the week --- that was the pop to fade {you had a second chance today if you missed the first one}! when refineries are shut down oil goes up and uncertainty prevails. GDP concerns and Fed governors talking about inflation again -- and what is tomorrow, consumer confidence?
You mentioned last night that you didn't want to overide your system. Where are you long from? Does your system provide a stop level or are you waiting for an indicator to "turn?"
That's my thinking too. I'll be looking for some long entries on bad consumer sentiment tomorrow or other eco reports. But as always, oil may scare me away from any broad plan for the week. We'll see some big hands turn a few cards up by eod tomorrow imo. Santoli in Barron's had a blurb saying short funds were averaging +9% ytd and long funds around what their indexes are. Someone is looking at not getting paid much this year. Geo.
Like shooting fish in a bucket, isn't it. There is only asymeterical risk as long as Chairman G-Money's reputation is on the line. There will a battle for SPX 1245, which will be won by the bulls. Market won't go down in any meaningful way until sometime in 2006.
pabst, sorry for the late reply I didnt see this thread/forgot about it, i was long on the december (esz5) from 1215 and a breakeven stop, i exited at the close today