We are back to active trading this week. Last week was slow. I had access to trading only 2 or 3 hours and most of the trades we had were sell limit orders triggered when price spiked. Performance was symmetrical to S&P and our sell of SDS right after S&P 1080 resistance was broke was a right move. I regret we didn't sell more than 1/3. Actually I was thinking of selling 1/2, but the last second decided to stay more defensive. Although market broke the resistance and closed an old market gap from the last year, still it didn't advance too far from 1080 level. We are bouncing around the same number +/- something not really important. Well, today I decided to upload more long plays (see our trades log) and keep SDS hedging on current 18% level which looks reasonable for me.
As for individual plays, I liked late of the day GSX action. We sold 1/2 of GSX for 0.78 dollars which brought us 180% profit. My records show we bought GSX for 0.28 dollars and actually first 1/2 of it was sold after doubling to 0.56 dollars. Today we were selling the second half of what was left. Nice result for us. I hope other symbols related to Oil and Gas will join GSX party later this week. That's it for today market review. To stay updated and now about our trades, please check our Trade Log. I post all trades within few seconds after execution. Also, I try to provide brief rationale for each trade.
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