Trade Plan, General Notes
Just one major resolution for the foreseeable future:
no long trades overnight, or maybe even none at all.
Every single long trade had quickly turned against me, very treacherous. Would be nervous to “wait it out” while waiting for shorts to play out doesn’t bother me at all. It’s that kind of market.
- If tomorrow opens up, especially strongly, short after lunch if targets reached
- If tomorrow opens down, do nothing
Do not chase. If itching to trade, do something with UYG and SKF, they’re familiar and more predictable at this point.
(this is self-talk)
I have a list of about 20 stocks with targets to short right now, but no really strong contenders.
Have to do something with the dollar while it’s up. I don’t trust it.
Never fails to make me laugh 🙂
Kat,
Not sure if you’re still holding GDX, but it’s jumping atm. I’m showing +5.55% as is SLV +3.20%
jog on
duc
Hi Duc,
no, I got rid of it the next morning.
No regrets, because I was able to use the money for a better return. But it does make me wonder, if I should still be more patient. The thing is, it’s self-doubt. Technically, I may be right, but if the market is telling me I’m wrong….
Just like SLW, had I held, GDX would work out, however I’m wary of silver and gold at the moment. I think they’ll go down some more before resuming the uptrend, so I bailed at the first sign of trouble.
What’s your arbitrage strategy? short gold/long silver?
I hope you are still long financials….
Short SKF as of this morning (-> long financials, except AIG).
Kat,
No I don’t like “Pair” trades, I don’t consider them an arbitrage at all. The arbitrage was physical silver against spot silver, but you would have to be able to buy the physical.
jog on
duc