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.

AND MORE

Took off the stop/loss at 173.23 added 250 more shares at 172.92 for a total of 1000 shares. I am keeping a close look at the S&P level of 1447.50. Must cleaning cut through this level, I still believe we will get a bounce into close. Now I must baby sit this trade for the rest of the day, will not hold over night.

More

Bought 250 additional shares of GS at 173.40. Kept stop/loss at 173.23. Doesn't look like we are going to move up into release of fed minutes, I am betting on a quick bounce after they are released. This is just a guess so be careful.

GS

Bought 500 GS at 173.62 decided to raise my stop/loss to just below todays low of $173.23.

Retest

Should have one more retest of the 13170 DOW and 1447.50 S&P. If it does retest I am going long 500 GS with a stop loss at 172.89.

Covering

Bought to cover DE 500 at $128.04.
Bought to cover Cat 500 at $74.52.
Looking to go long GS at 172.90 if it hits. If DOW maintains the 13170 area for another half hour, I believe we will rise into the fed minutes that come out at 2:00 p.m.

Reaching Support

Failure to ultimately hang on to the key proportional subdivide in this region of 13,171 at this stage of the game, and odds would have increased greatly that the next stop may not be until the 12,030 area

S&P Rumors

Friday I got stopped out on IWM.
Todays trades:
Shorted 500 DE at 131.85 stop/loss at 133.00.
Shorted 500 CAT at 76.48 stop/loss at 77.02.
Alot of rumors on the blog world about a large open contract of 65000 calls on the S&P at $700.00, check out Tim Knights blog at http://www.slopeofhope.com/.

Bought to cover 500 CAT at 84.60. Keeping my IWM short but lowering the stop-loss to 79.15.

If the DOW does not have a clean break below 13170 then I will be inclined to cover my CAT short with a nice little profit.

That was shorted 500 shares of CAT at 76.39, sorry.

Shorted CAT at 76.39 with stop loss at 76.60.

After market update

Well the market took us right up to resistance of 13200-13250 in the DOW, and 1458-1466 in S & P. My trade this morning is still in the money by .07 cents. The odds of this being stopped out right now is 50/50, but I am going to let it ride, I think we should have I minor correction tomorrow morning, before they make an attempt to break through this resistance area. If we do break through the next area of resistance is 13500 -13600 DOW, 1480 - 1485 S&P which should take us till the middle of next week. Going long at this point is will be difficult with the main trend is down and down hard for the foreseeable future.
Short term - to close to call
Medium Term - Down
Long Term - Down

Reaching resistance

Shorted 500 shares of IWM at 79.69 with stop/loss at 80.15.