Monday, June 22, 2009

Limit Order For SDS

I will be away most of the day today, so I am going to suggest putting in a limit order for the SDS trade. While the support level at 880 on the S&P is not too far, there is a FOMC meeting Wednesday and if we don't undercut that support by then, that would open up the possibility of an uncomfortable (for short-term trading any way) swing against our position. The short-term model will likely reach oversold if the market continues down in any fashion today.

Trade Recommendation:

Place a day only limit order to sell the current SDS position at 58.06.


1 comment:

  1. S&P short-term model clearly oversold as of noon ET, so get out today - even with a market order would be good. Then hopefully we'll get a chance for a new trade soon.