Monday, January 3, 2011
Filed under predictable... QQQQ
The chart shows my tolerance level being pierced. It will need a weekly close to become a real signal, but since I mentioned the trade on the blog (short the Cube, and SPY too btw), I am noting the tolerance level once again.
The topic may not be mentioned again, but if the condition persists you will know that I covered these shorts at losses, currently around 5% on inverse ETFs, and 2+% and 1+% on straight short positions.
Risk will be managed through cash levels and/or strategic short positions, as I continue to hold many long positions, focused obviously in the gold sector. As it stands, they are not going to shake me out just yet.