Sunday, January 24, 2010
Well the market action has been really horrible. I closed some ETF postions at gains and losses. The loss was in XLF as it went though a 2N stop, previously it had gotten close to this a few days before. I'd bought an initial position in it at new highs, it never went higher. After I sold it flirted with staying above the stop point but end of day went far below it. I had a spot in SLV (maybe SLX, whichever one is steel), closed it near breakeven as it was giving back what had been an 8% gain, closed below breakeven by several dollars. I've also been in a stock I've shown in this and several other recent graphs. It moved back below new high buy point after failing to make a higher high ( it made a lower high). Having some profit in it with bad overall near term market action and this one giving up some gains, I sold most of the position in it. It is no where near my 2N stop yet but I was over exposed. It remains on my screens for reentry.
Posted by nursebee at 5:30 AM