>>>>what factors did you look at to sell and/or forumulas<<<
Hi there. Both the SPX & SPH8 traded under support number two yesterday. When they began to rebound and rise back above supp #2, I used the (s1 + s2) / 2 + .50 points formula. This would equal
SPX: 957.44 SPH8: 965.75
These points were borken earlier in the day (just after 11:30), but I was not in front of my monitors and missed the signal. By the time I was able to watch the action, we were back below those puts...so I held until later in the afternoon. This cost me approx $1500 in profits
because I sold them for approx $1 less in the afternoon. My mistake...can't be watching the markets every minute of every day unfortunately :-( (I try to come as close as possible though).
>>>both your indicators are bearish...so what caused you to sell<<<
If we closed below the sell points I listed above, I would have held the position over night. But since we rallied back through a support AND the midway point (the formula above + a buffer), it was time to sell.
I've been trying to stick to this exit plan, but have been looking at other possibilities as well. So far, this is the best I've found...
See ya.
Edit: BTW, any type of honorable mention for my prognostication yesterday? When we were selling off, I said I believed 960 would be the bottom for the SPH8 and then we'd rally. Just after 1:00, we dipped to 960.50, and rallied til the close. <<<g>>> |
