Tuesday, January 20, 2004
That's the sweetest isn't it? The bean oil stop loss pulled down on Friday to my entry of 29.81 was one itty-bitty ticky above the high of today. What a delight when the market comes that close and doesn't take you out. I tucked it down to entry just to keep with my rule of doing my best not to let a winner back into the red. The day sold off nicely and I do think we'll see that gap closed over the week. If the support I see at 28.65 holds, I'll pull that stop down so close it'll squeak again like today.
My long Euro/short US worked out well with a nice little retracement. Took that off before going to work this morning. Tonight I'm short the Euro again. We'll see.
Coffee went balls-to-the-wall today. See, thats the value of not letting a winner turn sour. Taking the shost off last week, going long on the same day and holding it over the long weekend paid off. Where I goofed was to go into denial when my short didn't tank but kept bouncing off support. I only left with a 'C' note. But does that ever feel better that the way I used to do things. Wrong is OK. Wrong with a small profit is a real treat. Reversing and snagging a good profit makes me grin.