Tuesday, June 18, 2013

Stock Market Update

After initially going my way yesterday afternoon, this move in SPY this morning hit the stop and the Wonderwood short trade is stopped. Stops are part of the game. I will wait per the analogue for post Fed now before doing anything. Link to the Short Position Entry. Here is the chart:

Last night after the RBA minutes NZDUSD spiked the .7950 stop by a few pips. Link to the NZDUSD Entry Post. Per the twitter discussion I am still in this long trade and think we may have caught a bottom. Here is the chart:

I am going to take today and tomorrow off and wait for the dust to settle a bit with the Fed this week. Good luck all!

Peace, Om,