Thursday’s close finally (although prematurely by at least one day;)) signalled a change from the short position on the SPY. This position was established on December 10th. It’s interesting that the preceding long position lasted only for a single day. In other words, my SPY strategy has been short on the SPY for about a month now.
This short was worth about 1%, with the 1.5 leverage, but was quite painful – it was down as much as 3%! That hurts regardless.:)
The newly established long started with a bang on the negative side too – down 1.6% in a single day. Let’s see how it develops.
As you may have noticed from previous posts, sometimes I exit the markets around holidays. This time I decided to stay, another decision to kick oneself when things go wrong. What can I say – psychology and self-analysis is a big part of this game.:)