This week I took quite a beating. Although I expected the markets going down some plays I made last week that I got stuck in took a dive and beat me up. I was able to exit about 1/2 of my bad plays but I’m still stuck in a hefty AGM lot. This quadruple witching day beat me up some more at the end with a bad call on FAZ at the end of the day. Although I’m still holding over the weekend, I am dissapointed that it didn’t do what I expected.
All in all this week has forced me to reevaluate some of my technique which has helped me gain a further understanding of MACD, a powerful and significant indicator. I am still expecting the markets to dramatically go down. S&P will go below 900 before it goes about 1000 in my opinion.
I am currently in a nice PALM short at 14.40. I also have short positions in CCL. I am currently long FAZ and APWR. and unfortunately long AGM, PNX. Still a bagholder for STEM. On another hand my OTTR is up around 15%.
Looking for a better week next week.