Wednesday, August 3, 2011

Mid day update

Starting fresh was prudent.  I was able to buy the extreme dip this morning.  SPY low was 123.53 -- I was a buyer at 123 (see previous post).  I let treasuries and gold run even farther, then built shorts in both and a small long position in oversold banks. Then SPY formed a wedge formation, called the breakout correctly, and let my positions run.  Sold a third into the initial rally.

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