Monday, February 25, 2008

Market and Trading Notes

The market is clearly in "no man's land", as we wait to see if the current market consolidation is going to resolve by printing a bottom or taking another leg down. While I remain bearish, until the market proves itself otherwise, I am seeing quite a few bullish setups. At least more than I had in January.

Therefore, I want to position myself both long and short. Here's how I am playing this market. I am using ultra short ETFs like SDS, QID, SKF and SRS as my bearish play, and going long individual stocks with bullish setups, like my recent WMS trade.

2 comments:

Ronald said...

You were right on the money about CNX. I sold out too quickly at 78.83, but I can't complain about the $353 gain.
Rolled all that over into WMS at 39.00. By the way, do you post your gains with or without commission cost?

The Market Speculator said...

Ronald,
I don't post commission cost.

Your CNX experience is why I try hard to stick to my stops and targets.

Paul