-I traded BAC from the long side since it was showing relative strenghth to other banks and to the market in general. Yet , despite being "right" I lost money.
-The irony is that I closed the second try flat because I felt the market was going down if anywhere. I not only closed the BAC long but went short SPY as well as shown below. Would have done much better just holding the BAC long.
- Asian and European market weakness and Friday´s late ramp biased me to trade the SP500 with a short bias. But price action rules , and my first short was stopped out just above the intra-day high as shown in the chart.
- I re-entered via a stop-short sale at 126.88 with a stop at 127.02 . I removed this stop and was looking ok in the after-market as SPY traded around 126.90 . Pre-market action this morning has popped it to 127.50 and I still do not know what I will do.
