Our analysis of the broader indices has been spot on, but doubts crept in regarding the ability of that analysis to hold up. As such we started reversing longs and replacing them with shorts, which is now biting us back. One of those ‘stop and reverse’ trades was BIIB that has now stopped us out of the short creating some whipsaw. That one looks nicely bullish now. MR also stopped out.
Subscribers reading this page may wonder about the CAG trade showing below. It was a formal recommendation made several days ago and subsequently canceled – well, should have been canceled. I failed to do so and duly forgot it. Now we have a position that in theory we shouldn’t have, but such is trading. Whilst I try an keep this model account aligned 100% to the formal trades, sometimes we do have errors. Nonetheless, we’ll manage this trade accordingly.
Trades executed on Friday:
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The account remains in its drawdown, now at the 10% mark from open equity highs.
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