Friday, June 24, 2011

WRONG!

Today, my model was for weakness to get bought and clean up that open gap from yesterday. While we did move higher overnight, so far in the day session, the SPY and S&P Futures gaps remain unfilled.

Bears had other ideas apparently. Why didn't they listen to my S&P video! Stupid Bears! rrrrrrrrg!

When I'm wrong I always reduce size immediately, so I don't let my stubbornness (nah not me) creep into things and ruin an otherwise good week. With my size now, I can get hurt, but it would take a very big move against me (flash crash size) to do so. That's where I want to be until I get in sync with the market, which may not be until Monday at this point, as I'm still looking for a place for us to bounce, especially since we just held the 78.6% Fib of the last swing up.

Or maybe (probably) I'm just justifying what I want to see!

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