Monday, November 23, 2009

Update to November 20th Weekend Post

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The futures this morning are looking incredibly strong, and coupled with the rapid downward trajectory the past few days of the markets, make me think it prudent to put on a hedge on my positions and to tighten my stops on my contras (no sense giving up too much paper gain).

Hence, I will put a long hedge on each of my contras based on the following rules:
  • If I own TWM, I will select UWM as the hedge
  • I will put a stop loss at 98% of Friday's low ($28.46) on TWM
  • If Friday's UWM bar was green, I will enter UWM @ the close price + $0.05 ($24.98) , else I will enter UWM at the high price + $0.01 ($25.11).
Let me know if you have any questions.  As always, leave a comment below.

Regards,

pgd