Exhaustion Shorts By The Book
The Qs are in positive
territory this morning due in part to a
better than expected Chicago PMI and a strong performance in the Semiconductors.
Gapping out of what had been a stranglehold range (1430-1450 on NQ, or about
$35.50 – $36.00 on the Qs) provided for a few low-risk early pullbacks, and the
upper hourly Bollinger Band provided textbook guides for exits and potential
entries for exhaustion shorts. The trade has quickly slowed into typical
illiquid holiday trading as most folks close up shop for the long weekend, and
I’ll likely be on the sidelines from this point forward.
12:00 P.M. ET
With quarter close
upon us, it’s a good time to consider reviewing your own trading performance for
the past three months. While trade and daily results mean little to me
personally, in the scheme of things, I view quarterly performance as critical in
terms of assessing bottom line performance, and the weekend will provide a good
opportunity for all of us to refresh and reassess.
Good Trading and Have a Great Holiday Weekend!