Wednesday, August 11, 2010

Taking profit

We're close enough to the 50 MA (1088) so I sold the 1/2 short position taken at 1099 this morning. I am looking to buy back this position on the retrace which I think will be in the 1103-1108 range if the low holds. There is the possibility of the market testing the low-mid 1080 area which would bring down the Fib retracement.

I am holding on to my other 1/2 position @1125 short from yesterday.

Victor's EW Portfolio Update

Net Gain: 9 points on 1/2 (SDS)
Unrealized Gain: As of 1089 36 points on 1/2 (SDS)

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