I think it was our congress’ Super Committee impasse of the spending cut that triggered the super dump. I knew I should have had more greed last Friday and kept more of my SPXU, but that was just how I acted out my resentment toward the jinx that is determined to follow me. In a way, I knew I would leave much on the table but I reconciled ahead of time. It was my way of protest with respect to how I was misled by Tradestation’s compromised 200 day EMA.
Today I dumped 1/3 of my remaining holding of SPXU at the SPY confluence of support around the 119 area: the 200 week EMA (119.06 per Tradestation vs. 114.89 per stockcharts.com!!!) and the lower channel line since October (see 60 minute chart below). I acted on Tradestation’s 200 week EMA, despite the compromised historical data, only due to the confluence with the parallel channel support.
It’s only mid day, but I think I’m done for the day. Only 2,000 SPUX (in trading account) and 1,000 SDS (in my IRA) remaining.
Portfolio Value: $131,500