Jul 09

Trend Following Update – Exiting Short S&P

Entering our 4 currency positions Sunday night meant we had a position in all 10 of our futures components, something which has only happened once before in 2008, but it was fairly short-lived this time with our stop being triggered today in our Short S&P position, which we exited at tonight’s open for a loss of $3,137.50 per contract. This leaves us SHORT NASDAQ, 30yr, 10yr, Yen, Euro, Sterling, Gold, and LONG Dollar, Oil.

Short S&P ($ES_F) 6/21 -$3,137.50 per contract

We had mentioned in our weekend review that we considered the 1633.50-1636.50 level the last line of defense for our short rationale, a level which also coincided with the descending trendline from the 5/21 closing high. We got only a very marginal close above that Monday, but today got a strong follow through to trigger our exit.



Our remaining positions are as follows:-


Short NASDAQ ($NQ_F) 6/21 -$1,970.00 per contract


Short 30yr ($ZB_F) 5/13 +$10,281.25 per contract

Short 10yr ($ZN_F) 5/13 +$5,546.875 per contract


Long Dollar ($DX_F) 7/8 +$135.00 per contract

Short Japanese Yen ($6J_F) 7/8 -$12.50 per contract

Short Euro ($6E_F) 7/8 +$675.00 per contract

Short Sterling ($6B_F) 7/8 +$175.00 per contract


Long Crude Oil ($CL_F) 7/5 +$3,350.00 per contract

Short Gold ($GC_F) 4/5 +$30,610.00 per contract




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