Tuesday, June 14, 2011

Sell confirmed.

Today will be a sell signal.  Because of the fact I'm still underwater, I might not follow my system to the sidelines.  I think there will be more upside, so I may hold onto my 50% long position for another day or two.  It all depends on how I'm feeling at 4pm.  One thing that should be mentioned is that b/c today is a trend day, there is a good chance we'll close near the high of the day. Anyone wanting to sell their longs should probably wait until the close for the best price.
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6 comments:

  1. RealMoneyIssuesJune 14, 2011 at 4:37 PM

    If your only 50% in, why don't you sell your long position and go 50% short to take advantage of your sell signal?

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  2. law87June 14, 2011 at 4:54 PM

    i think he hold it and goes against his system

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  3. J-TraderJune 14, 2011 at 10:58 PM

    First because it wasn't a short signal it was just a sell signal. Second, sometimes ya just gotta go with your gut and my gut is saying more upside. Could be wrong (i probably am) but hey it's my money! :-p

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  4. RealMoneyIssuesJune 15, 2011 at 1:15 PM

    Ok, looks like we're losing all gains from yesterday.
    I bought TZA at the close yesterday and sold this morning for a quick 1.4% gain. Didn't know the markets were going to continue tanking so I guess I could have got another 1 or 2%... :)
    Now, I sit (gotta love settlement) waiting for all my long positions to hopefully break even this year...

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  5. J-TraderJune 15, 2011 at 3:09 PM

    Rule #1, don't trust your gut, follow a proven system. ;)

    ReplyDelete
  6. RealMoneyIssuesJune 15, 2011 at 3:46 PM

    I just need to decide how much profit I want to try for so I can set a target stop... I just don't know how to do that based on the charts...
    I am struggling with stop losses too... :)

    ReplyDelete

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