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It's one of those "sit back and just let the profits accumulate" kinds of days, so I'm not feeling that verbose. Here's an interesting chart showing the $CZH has finally broken its triangle, suggesting a meaningful drop from here.
I owm FXI puts (from a couple days ago) and am long FXP.
Everything is falling. All my puts and shorts are rising. And I've bought up substantial positions in EEV, FXP, and SDS, all of which are in the green already.
Hurrah.
4:00 a.m. Wake up. Decide to see what the market is doing, in spite of having no big positions. Grab yawning puppy. Amble downstairs.
4:05 a.m.-4:38a.m. Finish updating stop prices on open positions. It dawns on me that, in spite of the indexes being so low, the stocks all look like they have only just started their fall. I manually draw 2sweeties' retracement levels on my ES chart and do a quick post on the blog, mostly out of guilt.
4:38 a.m.-4:40 a.m. Although it looks like it could go either way, I decide to sell 20 ES at 887.50 with a stop at 903, simply because every single stock chart I've observed seems really bearish.
4:40 a.m.-6:15 a.m. Amble back upstairs, puppy following, to resume snuggle duties with Mrs. Bear.
6:15 a.m.-6:20 a.m. Head back downstairs; see the ES has dropped to 877.50, which is approaching one of the retracement levels. Close the position for a $10,000 profit. Decide that I can now afford taking Abby out to Per Se like I've always dreamed of doing. Market opens at 6:30 a.m., unaware that I've already victimized it.
Good morning, all. Thursday and Friday there are some big economic reports coming out pre-market (International Trade and Retail Sales, respectively), but today is going to be pretty sleepy at the opening bell.
I've drawn in 2sweeties' retracement levels on my ES chart, and I've updated my stops……..so…….I'm going back to bed!
