Golden Ratio: TRADE UPDATE: Looking for bottom in an abyss

2008-11-13

TRADE UPDATE: Looking for bottom in an abyss

My Development as a Commodities Trader: TRADE UPDATE: Looking for bottom in an abyss

Even though the low point of S&P was breached today (816.75 previous 825) the rebound from the low further strengthens the case that a rally may be in the making. I was glad my position was taken via options so I there was no stop loss trigger (my losses are limited by the virtue of options) and I am happy that the market has changed direction after hitting the lows. Next few days will confirm if this rally has legs and then I can add aggressive positions.

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-VS

Disclosure and Risk Warning

Some disclosures and warning about potential risk.

a) I will/may not be able to put all my trades as I have lot of things to do and maintaining this blog is more like a hobby/pass-time/to keep my thoughts in one place. In any case I build my key ideas mainly during weekends. This blog is not a proxy for my trading activities/records.

b) These are not meant to be investment advice and I strongly recommend that you do not follow them to initiate any positions or take any trades with real money. Trading commodities and futures is a high risk business and you can lose more than your investment. You are welcome to use them for educational purposes to understand the intricacies of our financial markets.

c) All risk, profits and losses arising from your investment actions are entirely your own and I have nothing to do with your success or failure.

d) Futures Trading is risky and carry substantial financial losses. You may not get your money invested and your losses are not limited to your initial capital. Do not trade commodities futures unless you understand what you are doing and prepared for financial loss.