Friday, May 21, 2010

The bounce OPEX day

As expected the market bounced back from way oversold. Actually we needed that relief from being deeply oversold. Unless the market closes decisively over 1100, we will most likely take another plunge. All in all, I am quite dissappointed in my systems. Those stops were such a sad situation considering each one of the stocks came roaring back. Meanwhile GDX which is heavy in a loss position is still hanging in there. I would like to see that piece of shit close out the position already. Gold is headed down as far as I'm concerned. At least for a while. Also.. where are the energy shorts? I'm not getting anything there. I did put on the FXP china short ETF and its underwater right away, stop loss not far from the close. Ugh. Not having TZA and TWM I am behind they system by about 500 now. I coulda got in today but was thinking this market was gonna go even higher so waited.. and missed it again. on the other hand, I think its best to be not much in anything over the weekend. Too crazy lately.

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