Thursday, September 11, 2008

Flat

I just sold my 1 unit long at 1240.25.  The market has now rallied from today's low an amount equal to its biggest rally on the way down from 1282. While things still look bullish for the rest of the day I don't want to overstay my welcome. 

7 comments:

Anonymous said...

great trade carl...10ish points, put that money in your pocket, and call it a day.

Anonymous said...

thx for the updates

Anonymous said...

Very good trading Carl...and appreciate your analysis. As I stated before the most important lesson that Carl teaches is that risk management is job 1. Carl also plans each trade and trades the plan with no room for pride in the equation. I totally agree with you about trades going in your favor in a set amount of time or it is best to cut it loose and seek another opportunity. Keep up the good work and as always I appreciate you sharing your thoughts. Looks like range expansion with a downward bias in the markets overall.

Anonymous said...

Though i read you and admire you a lot, you shouldn't take too much out of today's market. Lot of volatility with very low volume...at the end we went nowhere...

rcks said...

Great job with your trades and thanks for posting them and your thinking so promptly.
You may wish you held them given the close we just had. They could gap this and run tomorrow. 1270 could come in a hurry.

Anonymous said...

Thanks for the updates, Carl. Nice trade! Wow, re: the Dow's 200-pt 30-minute spike higher on the news that BAC is in talks to acquire LEH. An indication of just how skittish is EVERYONE...bulls and bears alike!

Anonymous said...

really appreciate your active update especially in times as difficult as this