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Sep 09

Trend Following Update – Exiting Short S&P

A big rally in equities today was enough to end the disparity we’ve witnessed with our Short S&P and Long NASDAQ positions over the last two weeks. As the NASDAQ raced to fresh highs, the S&P broke through overhead resistance to trigger our exit signal, which we executed at tonight’s open for a loss of $1,800.00 per contract.

We also came very close to getting a long entry on the Pound ($6B_F), but that may need another session or two to confirm. Going into Tuesday we are now SHORT 30yr, 10yr, and LONG NASDAQ, Oil, Gold.

Short S&P ($ES_F) 8/22 -$1,800.00 per contract

We stated in our weekend review that the burden of proof was still on the bulls, and they certainly delivered today breaking back above the 1664-1666 level that has kept them in check since the big break of 8/15.

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Here are our remaining positions:-

EQUITIES

Long NASDAQ ($NQ_F) 7/18 +$1,890.00 per contract

RATES

Short 30yr ($ZB_F) 5/13 +$12,937.50 per contract

Short 10yr ($ZN_F) 9/4 +$328.13 per contract

COMMODITIES

Long Crude Oil ($CL_F) 7/5 +$8,200.00 per contract

Long Gold ($GC_F) 8/16 +$2,060.00 per contract

 

 

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