16 November 2011

S&P500 : Short @ 1259.25

  • Old SHS top neckline is around 1265. Recent high 1289.25.
  • Initiated fresh ESZ1 short at 1259.25 last night. Stop close above 1290. Risk = US$ 1550 per contract.
  • Alternatively, tighten stop to fresh high on week ie at 1271 = risk of US$ 600 per contract. Would be bad feeling now if we were to go on to make a fresh high this week given current prevailing Risk Off sentiment (eg doubts in Italy again, BTP back above 7%).