Thursday, October 16, 2008

are we bottoming?

The chart is saying so. Today's higher low hammer and confirmation tomorrow would done the job.

As a trader, I need to maintained mental flexibility. Enter the trade when you are supposed to, Exit when you are supposed to.

Closed all of the bearish positions and went long on SPY calls and SSO

Closed my short Calls on IWM and let the long call ride. What a day, another 600+ range.

shorts: the ultra shorts
longs: SPY, SSO

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