Stinking Market Rally

Posted on Sep 25 2015 - 10:02am by Sharpe Trade

Nuts.

I wanted a crash.

Worse than that, yesterday morning when the futures opened the market much lower, I sat there like some green-horn newb trader, cheering it on.

Right at the active open.

Brilliant Dan.

Brilliant.

Of course, I wasn’t short because I wanted the market to fall farther.   We made money yesterday in our teaching account.  As any client of ‘The Sharpe Report‘ will tell you, we gained about 11 BPS yesterday, while the market lost 34 BPS …

Sharpe Report Since June 30

But still.

It’s the principle of the thing.

If I can obtain a larger spread over the benchmark after the mauling I took in the beginning of the year … I’ll take it.

We’re not completely out of the woods.  There are some major levels I’m watching right around 1950  level, of which we need a daily close above that price.  And a seasonally horrible October is still on the way.  So I may yet receive my wish. However, the fact that the indices are not dumping with increasing speed, is beginning to tell me that this all may simply be a retest of the correction lows of August 25th.

Nuts.

2 Comments so far. Feel free to join this conversation.

  1. NewLife September 25, 2015 at 11:21 am - Reply

    Did i say that S&P might fall through the floor yesterday? I meant ceiling i swear! And I’ll get back to you tomorrow about any fluke misspellings i make today.

    I’ve been lucky and have profited in this chop, but hopefully one of my trades will land in a trend sooner or later.

    • Dan September 25, 2015 at 11:28 am - Reply

      That’s the name of the game right there.

      Stay engaged, control the risk, keep making plays, record your metrics, and just wait for a trend to eventually ‘catch’ …

      🙂

      D

Leave A Response