Friday 27 May 2016
Stopped out at price, 1216
25 May – Buy 1226.8
27 May – Sell 1216.0
Loss = $10.8, $1,080 plus $15 commission per contract.
We took a stand on what appeared to be a climatic end
of the downside correction, and it was close but not
enough. The attempts to position from the long side in
the paper market have not been reckless, by any measure,
but they have been consistently stopped out.
The market support remains, but it now required a
reconfiguration with today’s latest washout.