Slope of Hope Blog Posts

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My Kind of Trade

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This seems like one of those days where all the action is compressed into about five minutes, and the rest of the day is a slog.

As we were "drilling down" into the zone I mentioned in the previous post, it became apparent to me we had hit some bedrock, so I closed out the Russell 2000 puts I bought yesterday. Here was the result:

0930-ruttrade

Very nice! A 20% profit in one day, and without an undue amount of risk. These are the kind of straight directional trades I love. I'm still wild-eyed bearish on the Russell, but I'm going to wait for another good entry point.

For the moment, I took a big long position in GLD – – it's my only truly large position at this point. Let's see if we fight our way back up to about 1052 on the /ES or not.

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