Sunday, March 15, 2009

Current Positions

This blog is being updated mid-stream and I've been quite busy lately. Here are some current positions and their entry's.

First one is the ES... took a short at 751 Thurs. afternoon. We went as high as 758 after hours. Took a 4 point gain as the action Friday was still quite supportive of a move up. I will reshort at 767 again.

Long term, I'm looking much lower. The moves over the last several days/weeks have been classic bear; slow, painful and even apathetic with violent moves up. We did a 13% move off the bottom (665) in the S&P in 3 sessions.

In the above image, I took on this position as it appears the gaps have now been filled on the retrace. There is a bearish engulfing candle on the 23rd of Feb. (or thereabouts) and a 50% fib retracement at 767 off the 665 level.

Time will tell.


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