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Earlier today, I had the biggest short position of my entire life. I covered my ES not at the precise low of the day, but darned close, and I gobbled up MDY, DXO, OIH long positions very quickly. They saved my bacon!
I also just bought these, with the following stops:
PST 51.03
SLV 9.99
TBT 39.35
USO 28.83
What a day so far. If you take a look at the timestamp of my post saying I was covering my /ES short, it was pretty darned close to the day's low. Since the position was 50 contracts (for me, a very big position), excuse me while I have a heart attack thinking how fortunate I was!
I've taken my (mombo) profits on the /ES short now. I've bought $100k of EWG with a stop at 14.74
Could get blown up like so many longs before, but it's a purty chart.
Since I don't have a cache of short ideas at-the-ready, I've just been adding and adding to my /ES short. So far, so good.
I did get a chance to glance at TLT, and I'm comfortable buying puts on this again (which worked out well for me last time). I'm buying the June 134 puts with a stop at 122.01 (that is, anything above).
Well, there's one thing you won't hear me squawking about anymore any time soon, and that's an "inverted head and shoulders" on the indexes. The prospect for that pattern was super December 8th, good on December 17th, quite good on January 6th, and since then has been positively squandered. It's dead, Jim.
Oh, incidentally, rest in peace, Ricardo Montalban. There never would have been "KHAAAAAAAN!!!!!" with you. You will be missed.
