Today’s Close Is Important
June 23rd, 2011 | by Hugo Gullett |Despite being a horrid weak for owning call options. I remain long the NDX and RUT. I may swap the NDX position for the SPX or trim both and do a 3 way split evenly.
The probabilities still favor the indexes moving higher as of 3:18pm. That could change with a flush that pushes prices below certain levels. At that point I would rather be in cash.
In the past this would be a slam dunk trade. Right here, right at the close. However, and maybe I’m overthinking it, is to cut exposure and make sure this time isn’t different.
Likely staying long and doing the right according to my backtested signals.
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