"A man is not finished when he is defeated. He is finished when he quits."

Tuesday, April 9, 2013

Carried a short overnight...

I finished yesterday with just the close out of the Friday trade I carried over the weekend; prior blog post.
Then at end of day, I saw the Plunge Protection Team hard at work driving the markets up in the last 30 minutes, so I went short in TNA to carry overnight.  I just closed out the trade for a $240 gain as price approached the $41.39 pivot.  A quick pop as I was clicking the mouse cost me about $100 off my gain; the downside of using market orders.  Price is rallying off the pivot so my decision was correct to sell there... in the short-term.  My suspicion is that the markets will inch lower today, carrying TNA into the 40.90 area... one never knows though... :-)

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