Wednesday, June 8, 2011

Enough Talk

I wanted to say thanks to The Fly for taking a look at my blog yesterday, along with about 20 others. At first I was sort of pissed at my review, but when I thought about it, it made sense. I do use an old Blogger template, and I do populate the site with pictures of weird stuff. I do blog for fun, I have a day job, and I do enjoy this very much. I am all over the road, I like to discuss plenty of things not directly finance. All in all I was glad he stopped in.

Enough Talk
Well I did not figure to talk about a strategy for weeks and then take a pass!

This morning I opened positions in both SH (S&P Short Fund) and PSQ (Nasdaq Short Fund). The market was about even and I figured a later day sell off might happen so I pulled the trigger. The S&P closed right under my target entry area of 1280. To be fair, I wanted a rally back to 1300 to open these positions, but it never shaped up this week. It still may by weeks end, but I felt like it was time to go on this one.

What is great about this trade is there are clear places to walk away. If the S&P breaks back over 1300 and holds, that would be step one out the door. A close over 1330 is step two (should leave) and if we arrive back at 1360, it's a busted trade without too much damage done. Otherwise it is in play along the new trendline down to the 1180-1190 area I have targeted.

Have a good night.

3 comments:

GawainsGhost said...

Blogging is about self-expression and nothing else. It's more of an online journal than a news report.

A lot of these guys who blog think too much of themselves. As if traffic makes them important. It does not.

You, GYC, write about your life, your transactions, without pretension. You publish pictures of your house, your grill, food, strange animals in the backyard, music videos, movie clips, whatever happens to be going on and is of interest to you. That's what it's about.

I happen to think you do a pretty good job, although I sometimes wonder about your taste in music. Because of, well, you know, your disposition on the Band That Shall Remain Unnamed.

watchtower said...

Well said Gawains.

getyourselfconnected said...

Thanks guys. No worries, I may change the template (So I am not Illusion of Prosperity's twin, lol) but I think the content is what works for me.