Covering Some Shorts Here
As you know I've been short a few of the mortgage related stocks. In the above chart you can see that the MFX index has made new lows for the year..
I exited half of my position today near the close because the index has moved lower 8 days in a row...I figured this is a good place to take some money off the table..I'm using the MFX chart to manage my individual short stock positions. I'm still holding about 50% of my short position and I will use a trailing stop. I will exit the balance of my short position if the MFX index moves above 77.
Posts
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_4.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_4.gif)
![[Most Recent Exchange Rate from www.kitco.com]](http://www.weblinks247.com/exrate/24hr-euro-small.gif)
2 comments:
Hi Kevin:
Just noticed something on your 2nd week bullish dow trade. The week AFTER seems to be usually half a point lower on the DIA IF the the 2nd week is options expiration week. If its not, and options expiration week is AFTER the second week, the DIAs tend to be up or at least just barely down by a very small amount with some good upside during the week.
Of course tomorrow I could be proven wrong as this theory would then expect the market to be significantly up tomorrow, up around 14,100 or so on the Dow. (141 on the DIA.)
RB
Well, there goes that theory.
Scratch that.
Post a Comment