I broke my -5% rule because of big AH move down yesterday.
I really need to stay away from this thing...
Oh well, its a small position so I'll let it ride. Contango be dam'd.
Yes I see that, thanks for reminding me. I do not use a mechanical stop. supposed to stop myself out -5% but broke rule.
I'm not selling or adding, my original sell for 12.20GTC remains. Its a small enough position that it does not hurt to bad, but all losses suck!
I had to jump back in and give profits back... Did not stop myself out last night AH, so I deserved today.
Oh well, still up for the day but this kept a lid on what would be an excellent day!
Wait and hope now.
Flame away gentlemen, flame away - Phisher, you too.
I would not double down, but would hold at this point. More then likely this will see 15 again with in two weeks, probably much sooner. We may make new lows before then, but don't get scared out sitting on that loss IMO as this thing can (and will) turn on a dime. I would not want to be short right here right now, after a big move sure, but not now.
I bought a small position here again today, I almost stopped myself out AH, but waiting for tomorrow. I will not allow more then -5% loss if I can help it, which is a tight stop for this thing.
Today does not mark the end of fear in this market IMO IMO!
Buy on big down moves, take the 5-10% and run. In and out quick, tight stop!
I know she favors the shorts, but she give me a little somthin pretty consistently if I am quick about it.
Back in 11.55. Again, just a small hedge.
Good luck gentlemen, Kev you too....
I don't know, but never say never with this thing. I do not have the "giant sweaties" to hold on here. I trade this like a wimp catching small moves and often leave a lot on the table (such as today).
The big move (maximum fear) was today and we probably bounce next week. I am mostly cash but added to some long positions today, including SPY.
Being Summer and all, I prefer to stay at least 50% cash and not spend my free time in front of this screen!
To be fair - those who have held short positions here long term are still cleaning up (you know who you are), despite todays action. I'll give credit where credit is due. I don't have enough conviction to hold this longer term either way.
Anything can happen here and gifts like this don't happen often. I would not hold over weekend, but to those that do - good luck, I wish you well!
I'll be back in next time it gets crushed, and it will get crushed sooner or later.
I left plenty on the table today, but not a bad trade. This little hedge kept me green today....
Congrats longs, now time for some beer and lobster rolls!
Also, congrats to Britain. You did the right thing in the long run!
Always very quiet on up days, but loves to kick us when we are down.
Lick it Mulani! You to Phisher!
Dam I left alot on the table! Seems to always happen, but maybe its why I consistantly win here. Oh well, not looking back.
Congrats to you Lobster, have a few lobster rolls for me.
Back in here today, and I am not a doomer. This is just a very small hedge and fun to trade. Well in the green here since I began trading it. Just buy it when it gets killed and take your 5-10% and run - that is my strategy LoL.
Same here. I have been doing pretty well here but gave a bunch back today. Glad I took profits before going on vaca last week. Back in today at 11.19.
I took my eyes off the wheel for 20 minutes and did not stop myself out, now stuck.