The official high 30-minute close was 1161.25, bang-on the envelope. The market took us right to the edge and blinked first. As EasternEdge pointed out VIX hit a low not seen since late April. The market hitting nominal new highs emboldened the bulls and brought a couple of comments to this blog about what a fool I am to increase my exposure here. Fool I am, happy fool. Actually, my trading allocations are conservative. I could go much, much further into exposure.
This is what it takes to turn a trend, deeply ingrained conviction that the trend will always return to save their _____s. You fill in the blanks.
Still 1.75 hours to the close. A lot can happen. If a sell-off does occur I'll short into the weakness.
Still long DX futures and short CL futures along with SP futures and 10% SDS long.
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you da man! I admire your courage and the confidence you have in your system.
ReplyDelete(I've seen that you play defense much better than I do when the market goes against you, so I will wait for a little more confirmation before adding to shorts :-)
Damn, Steve. I do like your style.
ReplyDeleteI like to entertain.
ReplyDeleteWe still have to wait out the close.
ReplyDelete