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List,
Well I hate buying into this market, but we have to follow the system.
We're reversing our short S&P positions this morning. We're long at 1351.25
to 1351.75. The one good thing about being a contrarian is that when we
reverse, we're usually opposite the market direction, so the fills are
pretty good. Of course, with all of the market weakness, we might have been
better off waiting for a while, but that would be second guessing our
system.
Our short S&P @ 1417.25 closed out at 1351.75 (worst fill this morning) for
a profit of 65.75 points. For an e-mini contract, that's $3,275 less $25.00
commissions, fees, etc. (actually less than that) for a net profit of
$3,250. On an initial margin requirement of $4,688, that figures out to be
a 69% net return in 22 days. Not a bad annual return if it would only keep
going. :)
Anyway, that's our current positions. We haven't gone long the tech stocks
as of the opening, but will look at adding those around 7AM.
Guy
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