Man its nice when you can be completely wrong about the direction of the market and still make a killing! As you will recall, I had a bearish bias this morning but the majority of the profit I made today came from my shorts despite the markets rallying tremendously. Talk about the power of relative weakness.

Not much to comment on today really. PEIX got stopped out early and then went on its original direction. A bummer, but the chance you take when initiating a trade.

Since inception my system is sporting a sharpe ratio of 1.59 (which means my average winning day is 1.59x greater than my average losing day) and my daily batting average is sitting pretty at 70%. I couldn’t be more pleased and only hope that things continue to proceed as well. My goal is for an average daily return of at least 1.00 R-Units. I’m only slightly above that currently and would like to see that buffer increase. I think that it will in time, as I continue to refine my criteria and trading plan.

Well glad I ended up posting these afterall today.

IO was the big winner with some beautiful relative strength. The DTs were mediocre again today. I re-entered SHLD around the 2:00 breakdown and was able to catch a little piece of that and I exited AEM at 10:00 near the low of the morning since it was extended at a reversal time & prior area of hourly supply. I re-entered this as well at the noon hourly breakdown and had a second very nice followthrough.

Overall, I was very pleased with the way I traded today given that it was an FOMC day and those are typically trickier than normal.