Jun 26 2009
Trade log 6/26/2009
Long 5 XLF July 12 puts @ $0.59.
Kind of pissed XLF isn’t available to short.
UPDATE: Conditional sell order if XLF rises above $11.98.
UPDATE 2: Piling in on the short side. Long 100 SDS $55.88. I like how $TICK is unimpressive , A/D line rolling over, and $TRIN breaking to new highs.
UPDATE 3: Need to throw a stop somewhere. $55.44. I am pessimistic about both of my trades, but I know where my stops are. Stops are in, emotions are out.
UPDATE 4: If you’re bearish and you know it, you start seeing things.
An H&S pattern has been forming. Top is 956, neckline is 880, difference is 76. If this breaks, we’re going down to 880 – 76 = 804 very quickly.
I am not too happy that I spotted this because now I am more bearish than ever. That means I am probably wrong. We’ll just have to see how this plays out.
Mate, I am sure you know about SEF (short XLF)
[...] head and shoulders pattern I pointed out more than two weeks ago seems to be playing [...]