- ... Makes You Stronger. If bears can survive the Chile earthquake squeeze, there probably is a good case for a larger short position.
- Monthly : Feb10's rally has destroyed the Bearish Engulfing pattern so can't turn to this for a strong reason to sell.
- Weekly : Broke UpTL, pulled all the way back up above on today's squeeze but now back below. No small amount of shakeout has probably taken place. Is healthy, is bearish.
- Daily : As long as NY does not put in a strong rally for the rest of today's session, this has the look of a rally run out of steam.
- Have scaled back on overall risk positions quite substantially tonight with profits booked. Thus, will allow myself to work a limit order to increase my short Copper trade and improve my average in rate (330.6). Last 333.25. Probably work something around 338.
- [Addendum 8:20 pm 02Mar10 : Sold HGK0 @ 334.4].
2 comments:
T: is this an exception to rule#9 due to circumstances?
I have no good justification for doing this. I guess I can only say that I have reduced EUR CAD and GBP positions by a large amount tonight so am relatively light on risks right now. Hence cutting myself some slack here to go with the gut feel.
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