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Close THE SHORT
We Are Closing The Short
We opened an ES short at 4150. We are currently at 4150. We will close the short here flat. I will let you know when my systems provide another signal.
We have not seen the type of short-term capitulation confluent with a stronger downward move in momentum. Therefore, it is likely we will need to squeeze short positioning further or for a longer period of time before we put the short back on. This is exactly how these types of situations work and ideally, we want to make a little money on the way.
I remain bearish overall on the S&P500 but with these Substacks, you get to see the execution and risk management. There is nothing wrong with taking multiple shots at an opportunity like this if you manage your risk.
Also, remember how these trades fit into a larger portfolio, these are specifically meant to generate alpha and capitalize on opportunities. These are additive to a strategy as opposed to being the only thing you trade. I am working on integrating this more so you can see the whole thing but it will take some time.
****REMEMBER NONE OF THIS IS INVESTMENT ADVICE IN ANY WAY!
Thanks for reading!