Monday, September 27, 2010

9/27 10:10

I'm currently short 1% DJ and 1% SP futures.  I held 16% SDS coming in.  Just bought 4% SDS 29.30.
I just broke my money management rules.
My money management rules state that before I can increase short ETFs beyond 16% I must see the SP futures 30-minute M/A broken again on the downside. Currently at 1134.75, the break would occur on a 30-minute close below 1129.  This is a long way down.


  1. Good luck Steve.

    I am a little worried about 2 POMO ramps this week, tomorrow and Thursday, that would send us to yet higher highs.
    Any thoughts?

  2. I too am beginning to wonder about POMO. This is no longer a free market. It's being manipulated by means of money-out-of-thin-air from the Fed. Overall, I have an underlying belief that the Fed is just one of the many players that make up the market, and the market will do what it's gonna do regardless of what the Fed does. But using money that did not exist a few minutes ago to buy millions of shares of stocks--that does not sound like a truly free market to me.