Ouch
15:53 America/Los_Angeles 29 Jun 2010 
4 Comments
Today was a viscous day to the downside as it broke through the support that we mentioned a couple posts ago. This triggered our stop on SPY and now have a short position with SH, since the portfolio for this site is either long or short at all times…. no cash. Unfortunately with gap down our stop right under the support $106.75 didn’t work out… and to keep things legitimate the fill was at the open with $105.75 way below our stop point. The short was put on with a purchase of SH at $53.81.
So all in all today was a bad day for the portfolio and hindsight is always 20/20. Below is a chart giving some perspective on what exactly has happened recently.
Don’t worry NHF .. we all have a bad day. You’ll make up that 2% or so that you lost today.
Thanks Bernie…. the most frustrating part is that I didn’t follow my own rules when we broke the uptrend last week with the 50 day moving average rejection.
I hate whipsaw!!!!!!!!
This market is a bouncing mess
Now the scary potential for whipsaw is that tuesday was the wash out and now the market rallies from that low!
But I can’t see it getting through the 50 or 200 day moving average