Carrying a Losing Trade Into the Weekend

Tuesday, October 13, 2009

S&P is strong after the Employment Report, it seems like I will go with my positions off the money to the weekend.

I am short at 894, losing almost 30 full points in my futures contracts. The S&P Futures are up over 40% from their low early March. Everybody is bullish now, especially on CNBC. I am expecting a big and dramatic pullback on the market that might take the S&P 500 to the low 800`s.

I am carrying a big short line and I am annoyed with all this unintelligent bullishness.

By the way, I did well to close my Oil Futures Contracts yesterday. They are trading back up today and I am planning to short them again later today or early next week.

Trading is never easy, is it?

I need a rest. This week was exhausting...

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