Friday, March 13, 2009

Shorting the ES for a small retrace

Today I did nothing until 4pm. At which I short the March ES at 756.75.

This is moderately risky short term play. I am expecting a small retrace of ES back to 745 level before the uptrend can continue. Thus my target is 745.50.

At the current moment. This is no reason to enter a long term short position. Most likely, any dips will be buy back up.

Position: -1 March ES.

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