Thursday, December 04, 2008

Covered

I just covered my short at 862.75. I was expecting an immediate and fast break below 860 but the market has instead rallied back above the breakout point.

8 comments:

PM said...

Hi Carl,

Today, I'm willing to say the bottom is already in place until I'm proven otherwise. This current rally should take the SP's to 1000.00 and possibly even to 1250.00 if nothing funny happens. I would not short this market. I'm playing this as if it is now a bull market, and I'm adding to any serious dip we get.

Anyhow, that's my story and I'm sticking to it. The Bonds should break as this rally becomes more obvious.

Thanks.

Kindest regards,

PM

rcks said...

Carl
I appreciate all your posts and especially the trades. This market is frustrating Bulls and Bears a like.
You can find TA reasons to support both sides. The funny thing is, I think this market is behaving as it should. The fast rises have all failed rather quickly but this rise is acting much as it should for all the damage that has been done the past 3 months. We need this backing and filling type of action, we need each rise to be tested and in effect supported by not failing as we did through much of Oct/Nov.
Keep up the great work.
Steve

Anonymous said...

Carl

I know and feel your pain. Frankly, it's all part of trading; it's all about returns as the final arbiturer and not the flip/flops of this current market action. On avg I do over 400 futures a year; of that over 200 are losers, the balance buy me a allot of comfort.
I admire your work and moreso your fortiude!
Keep it up as I'm confidence you'll ride the eventual breakout to further glory!

Raphael

Milo Minderbinder said...

read your blog daily to learn from you; keep chuckin'
Ferd

Anonymous said...

Watching you trade is an inspiration to me. Keep up your good work and daily progress because I still have a lot to learn.

Anonymous said...

Again, IDIOT AT TRADING... I bet you didn't catch the last fall... ha ha!

Anonymous said...

seriously how do you have any money left. I know you have good intentions but i have watched you for two years and you are hardly ever right.

Anonymous said...

Carl, you are getting whipsawed every day. Why are you trading so frequently? Do you ever step back and say, today is not a day to trade?