pyesetz | Not quite as planned (Reply)

On Oct 08 I wrote, “I plan to wait 4 days (until Tuesday) and then start using the EMA(10) as a daily trailing stop. If price is already above that on Tuesday that I’ll cancel this trade with another loss. Shit happens.” Well, shit happened but I didn’t cancel the trade. Serves me right for posting while a trade-set is in progress. Anyway, I looked in on the market today and saw that it was down -2.2%, so I decided (seat of the pants) to augment my short by another 20%. So now I’ll gain 1.2% for every 1% the market drops — boo yah! I don’t have a BUY-stop at the moment; not sure yet when I’m going to end this trade, which is currently sitting at an expected loss of -2.3% (if I closed tomorrow at today’s dotted-blue-line price) after dipping as low as -3.8% yesterday. I could walk away right now with a loss of only -0.5%.

Banks, banks, banks! Oh, and Hamas-vs-Israel. And don’t forget Putin’s war in Ukraine. Oil, always oil. It’s a never-ending hailstorm of reasons for the stock market to go down, down, down, into the ground, to get out of the rain.