Friday, July 28, 2006

One That Got Away - VSEA

This is the one I mentioned earlier that I mistakenly sold instead of adding to the position. I know, I know it's a lot of money and you should be 100% on the job. Unfortunately I was thinking about 3 other positions at the time and not paying much attention to what I was doing. This morning was a gold-mine of opportunities just waiting for the digging.

Anyway it was a gap-up (1) that I found using software at 9:45 this morning. I watched it for another 15 minutes and once it formed the hammer above the opening bar I said this is probably for real. At 10:15 I took the trade (2) and about 15 minutes later I was going to double up because I saw the VIX starting to collapse. Oh well. Had I kept the trade I would have off-loaded around noon (3) right after that black candle.

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