Tuesday, July 27, 2010

07/27 Daily Summary

Another day without any adjustments, that’s awesome! I’m very grateful for the P/L recovery in the past 2 days. I have a feeling the elephant is getting tired of running up, let’s see what Tomorrow brings, because Today was a bearish formation I’ve decided to move my up-side adjustment a few points closer because if we take out the previous highs I figure it is a good sign to go on and hedge against the upside. Let’s see what Tomorrow brings. We’re approaching 2 weeks into the trade, so I must make a decision by the end of this week: stay longer or start closing up shop (i.e. condorizing/exiting sooner).