"The only way to trade with Fibonaccis" journal

7/2:

Open positions:
SPY: $3,176
SH: -$952

Net for this trade:
$550.64 (estimated dividend payment)
$2,224 (net SPY/SH position)
-----------------------------
$2,774.64

 

SPY is up almost a dollar so far this morning!

 

Buy 400 SH @ 36.12.

 

7/3:

Open positions:
SPY: $3,896
SH: -$1,133

Net for this trade:
$550.64 (estimated dividend payment)
$2,763 (net SPY/SH position)
-----------------------------
$3,313.64

 

7/5:

Open positions:
SPY: $3,400
SH: -$979

Net for this trade:
$550.64 (estimated dividend payment)
$2,421 (net SPY/SH position)
-----------------------------
$2,971.64

 

7/6:

Open positions:
SPY: $2,360
SH: -$605

Net for this trade:
$550.64 (estimated dividend payment)
$1,755 (net SPY/SH position)
-----------------------------
$2,305.64

 

7/9:

Open positions:
SPY: $2,224
SH: -$539

Net for this trade:
$550.64 (estimated dividend payment)
$1,685 (net SPY/SH position)
-----------------------------
$2,235.64

 

7/10:

Open positions:
SPY: $1,280
SH: -$176

Net for this trade:
$550.64 (estimated dividend payment)
$1,104 (net SPY/SH position)
-----------------------------
$1,654.64

 

What is the objective of this position? Have you partially cashed out yet? What is the target here? Time based exit? Profit based exit?

thanks,
tihfa

 

I haven't cashed out anything. If I did I would've mentioned it in the thread.

I'm not exactly sure when I'm going to exit yet, but it's going to be after SPY breaks out of this little range it's in. I'll post my thoughts and exits in this thread.