Friday, May 21, 2010

Bookkeeping: Sold Remaining Index Longs

The S&P 500 seems to hovering in a range of 1078 to 1085 for now. I put a mental stop of 1079 to lock in the remaining gains from my puts and TNA so I've sold those as 1078 broke. The market could very easily tack on 10 points (or drop 10) in the closing 90 minutes of the day but that was the level I committed to, to make sure I walked away with gains on the morning purchases.

From here I am ambivalent on the market direction and we are in a new (white noise) range - at the bottom would be today's lows or Feb's 2010's lows of 1045, at the top is 1094 to 1102. Could be range bound within these 2 for now.

No position


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