Fighting a trend is futile. I've been short fighting this upward trend since March and have been decimated being short. Acting like a deer in the middle of the road staring at headlights makes things worse. I didn't have a stop on the losses and continue to stay in.
What am I doing? What ever happened to my risk management and all my work to improve risk management.
The unemployment numbers can out to be 8.9% in line with estimated. The markets see this as positive news and the market is rallying.
It seems that nothing is going to bring this market down. This is fustrasting being on the wrong side or being a contratrian trader.
I think I need to look at the overall trend of the market and trade with the trend and don't be cute by front running a reversal of the market. Timing the markets is hard to do, whereas following or riding the trend is so much easier.
My IWM puts are mostly likely going to expire worthless, where I will loose the entire debit. I'm keeping my RUT credit spread for now.
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