Posted by: OBAMA November 9, 2011
What are you buying in this market meltdown
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very frustating 2 weeks.....i was hoping for a quick selling of 100 points or so of S & P. So i was looking for selling opportunities all the time. Finally, overnite, i was long EUR/USD one lot hoping to get aroung 200 pips with risk of 20 pips. To my good fortune, Euro broke down huge within 30 minutes of my trade and quickly i reversed my trade for short-side  accepting loss of 17 pips. Haven't still closed my position and have almost 200 pips of paper profit.

Weakenss in euro provided the much anticipated down push for S&P too which i had expected before i went to bed last nite. So far so good....shorting Euro and S&P.

Disclaimer: My intention of writing my trade here is not to boost my ego rather than to show patience, timing, understanding intermarket relations and willingness to accept calculated risks are part of winning in the stock market.

I hope to see follow through selling tomorrow too.
Good Luck
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