Day’s End

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Well, in spite of a lot of trades, I ended the day up with no change. And I mean it. Sometimes when folks say "no change", it simply means "a loss I can tolerate." But I'm serious. Zero change.

I did lighten up to some degree. I've gone from nearly 280 positions at the peak down to a mere 190 shorts right now, and – – still – – one long (FXE). I went through my charts as quickly as I could to trim out those I felt had a lot of "meat" on them and too much risk to hold onto. I've kind of had my fill this year of watching fat profits disappear in the face of rallies. That gets really, really old the third time you've gone through it.

I actually would have ended the day with a pretty OK profit were if not for meddling around with GLD. I went in and out of that sucker – both long and short – with nothing but losses to show for it. The lion's share of the loss was the fact that I entered today very short, and we gapped higher. I have no position in GLD right now (or GDX, for that matter).

I'm about 114% committed at this point, and about 20% of that is the FXE long. Tomorrow morning should be interesting, particularly with the retail sales report (RTH is the only big short position I have right now). Considering what a dynamite day I had yesterday, I'm fine with a flat day as a follow-up. All the same, seeing the QQQQ down 0.79% on the day and showing no profits on my almost-all-short portfolio is a disappointment.