A Harrowing Session

By -

Today was my worst trading day ever, measured in dollar terms.

 

I came into the day not just fully short, but margined to about 135%. Virtually every one of my positions was in the red, and I trimmed the quantity of my positions substantially. I picked up three large long positions – GDX, FXE and IWM – although obviously it would have been nice to have bought them at yesterday's prices instead of today's.

All in all, a day like this is disheartening beyond words and makes me wonder what all the hard work is for.

It seems that 1040 as a buy-everything-you-can point has been a good rule lately. If we pass the area marked in yellow (1098.50), it will weaken the bear case. It we cross the green tint (1129.50), it's time to hang it up.

0901-es

I'm done for the day and will probably just go crawl under a blanket now.