Shared by
spyrosz
Needed/Looking to increase long "exposure" as recent 3-day sell-off resulted in trailing stops getting hit for pretty much all of remaining long positions.
+ the velocity of the sell-off
+ being over-extended even from 9SMA@daily,
---> made me leaning "bullish", at least for the remaining of the week.
I was stalking $SPY $372 level to nibble some. Got it towards close,
-- Got long Tier 0 risking stop $368s, half-ATR=$5 below the suppport pivot $372, which is tight and not ideal given realized vol...However, with next potential support pivot=$364 being so close to current one, I must be able to cut it quickly and re-engage lower.
-- Expecting a higher open tomorrow to trim some, and feel comfortable before FED meeting. If level is defended tomorrow and holds after FED, potential for a push to $385-387 exists.
-- 1st target $385-387 area
06-16-2022
At least I sold 1/3 before I felt into the trap...
Small loser, moving on.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2022-06-14 14:52:13 | SPY | buy | $372.520 | long |
| 2022-06-14 14:53:14 | SPY | buy | $372.730 | long |
| 2022-06-14 15:30:52 | SPY | buy | $373.025 | long |
| 2022-06-15 09:12:13 | SPY | sell | $377.390 | long |
| 2022-06-15 09:58:46 | SPY | sell | $378.770 | long |
| 2022-06-15 14:44:19 | SPY | sell | $381.790 | long |
| 2022-06-15 14:45:16 | SPY | sell | $382.300 | long |
| 2022-06-16 09:35:05 | SPY | sell | $369.410 | long |
| 2022-06-16 09:39:42 | SPY | sell | $368.724 | 0 |
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