- ... sometimes go awry almost instantaneously.
- Spent the whole weekend pondering the possibility of a bigger short squeeze on this after last Friday's reversal candle.
- In the end, decided to square half of my substantially short ESU0s. Executed on Monday's open at 1067.5 (high 1072.75).
- Costly costly decision in terms of profit potential given up. Still, it was the right thing to do in terms of prudent risk management.
- After Monday night's price action (Hi 1064.4 Lo 1048.8 Cl 1048.9), nothing has changed in terms of the long held bearish view here. Still weekly and daily SHS tops in motion.
3 comments:
I believe a lot of good traders did the same thing. In Gartman's letter this morning he noted the reversal and said it was wiser to get out of the markets as well until a clear direction (potentially down) emerges. Though you squared your position, why would you not put it back on after the Close? Reason I as is because that's what I did when we closed lower today.
BH
I just read your latest post. You can ignore my question.
Thanks
BH
Also because I want to spread some of the "Risk Off" risk into shorting AUD/JPY eventually.
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