14 March 2014

S&P500 : This Little Sucker Got Lucky

  • Shorting US equities. Many have tried, many have died trying. True sucker's trade. Even so, after a long period of absence, yours truly put on a new short 2 nights ago, -ESM4 @ 1859.
  • Trade decision based not so much on SP500 technicals but justified on divergence between  Dr Copper (bellwether says serious growth slowdown) and SP500 chart (everything hunky dory).
  • Now we have a reversal on SP500 daily chart. Original stop loss set based on cash new high above 1887.50 brought down to at worst a small profit on original trade entry. Watch weekly closing as well - possible reversal to downside.
  • [Was a toss up between selling ES and buying USTs. Given my natural inclination to be short bonds, decided on ES. Copper chart has tempered my bond bear disposition].


Taichiseal said...

Took profit. +1839

Will re-enter short.

Taichiseal said...