Friday, January 18, 2008

Trade Update and Short Term Trading Plan

I covered the remainder of the GS short at $186.23 and exited my QLD position at $79. I re-entered QLD at $76.23 with a tight stop (basically using my profits from the last QLD trade to cover this one) in case we bounce in the coming days.

We will eventually get a bounce. That's when I will look to initiate short positions. It's just too hard to enter right now. The T2108 indicator looks set up for a bounce, so I would not be surprised to get one sooner than later.

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