SHORT

Shorted 1000 shares of IWM @77.82 put stop/loss at 78.08. I do not usually cover gold but it should make a small dip may 695 ounce then a strong push to 730-750. If gold makes this high it would make a great short.

Crash?

55 days in 1929 from peak to crash; 55 days from peak to crash in 1987. Is September 12, 2007 this decades crash date? The corrective C wave topped at 61.8% of A. If this count is correct, the next few days/weeks will be UGLY. Stocks should see persistent downward pressure with momentary sharp but short relief rallies, and volatility will rise sharply, higher then we saw in early August. Panic will likely not set in until below DOW 12518 (SP1370), the August low, at which point we find out if the floor is around the 2000 high (Dow11.7K) or the low which ended around DOW 10k.

Stopped Out

Got stopped out on DE for a loss, not a great week. My plan is to not trade until next Wednesday, then we should be back to normal volume levels. Tomorrow's fed speech will be a non-event, we may have a Strong spike up only to fade by the close. The bear market should return in full force in the next two weeks. Stay in cash, short hard if the S&P makes it to 1485. Have a great weekend.

Dipping back in

Shorted 500 DE at $128.84 stop/loss at 129.34. This time I WILL NOT remove my stop/loss. Thanks for all the great comments, and I'll try to reply to as many as I can.

Retest of pivot point

If S&P were to move cleanly back on top of 1447.50 then there would be a better than even chance that this leg down side is over (temporary). The danger is that this action is only a retest, since near-term trend was down, it would take clean move above 1447.50 to take some of the pressure off the down side. Look to short if we hit to 1447.50 (hit in futures 1447.25) and go lower.

Covered my sorry ass

Sold GS at 172.10. Got killed. Never remove you stop/loss!

Lesson

Well I posted earlier that I had a target to buy GS at 172.90 if it hit, but I tried to out think the market, and pulled the trigger to soon. What's the lesson, stick to your original plan, if it doesn't work, out stay out.