- 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].
2 comments:
Took profit. +1839
Will re-enter short.
-1844
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