Tuesday, February 23, 2010

Not full blast bear yet

I got stopped out of many of my bullish positions today. Gave back a bunch of profits. I decided to move my breakeven floor to 5% and my 50% trail to kick in at 10% profit. I was giving back too much. kind of a heartbreak but all part of the development of a system. The market was way overbought and due for a pullback, I shoulda closed my bull positions yesterday. oh well. I don't think this is the beginning of a major selloff, although I did get out of TNA and started to accumulate TZA on my gpanek marketguru account. I have still not gotten a sell signal on the market. Thats why I think it has to go up and test the recent highs, maybe get to 1122ish, then run down heavy. I probably shoulda taken some meager profits on my Q puts also... but after last time getting out waaaaaaaaay too early I decided to hold on for something more significant, so I will most likely go back underwater on them for a while.... hopefully not a long while.

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