Hi, these are just ideas not recommendations, sometimes I trade my ideas, sometimes I don’t.
Always remember, yours is the responsibility for your trades,
Good luck,
Erick



Sunday, June 21, 2009

6/21/2009

Since I started this blog on April 26, the markets kept on climbing, the SP500 opened on Monday April 27 at 862.82 and closed last Friday at 921.23 for a 6.8% gain in the period, the Dow Industrial went from 8039.88 to 8539.73 resulting in a 6.13% gain, and the Nasdaq Composite started the period at 1671.21 and last Friday closed at 1827.47 for a 9.4% appreciation in less than 2 months.

Obviously my bearish stance has proved wrong until now, well I still have an overbought reading of the markets the only problem with that is nobody knows when this condition will end and the markets start to correct. That is why I made my three long orders which until now have not executed.

I believe right now is not the time to go long fully, maybe going short isn’t the answer either but I am keeping my bearish trades open.

I am changing my May 17 order to sell short XLI.

The new order:
Sell short 150 XLI 21 stop 20.87 limit GTC

Trade safe and remember your Gerald Appel.




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About Me

I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write sternloinaz@gmail.com Thanks, Erick