20121002
Long 1 YM 13446, -6
Long 1 TF 837.8, -0.5
Long 2 TF 836.9, 836.9, -0.7, -0.7
Short 2 TF 836.4, 836.2, -0.5, -0.6
Short 1 TF 837.9, -0.7
Long 2 TF 837.5, 837.5, -0.6, -0.6
Total YM -6
Total TF -4.9
Although we understood the early going of the initial decline and Test n Reject pattern, we failed to find the bottom with long positions, and bought too early for stp-out's. Then we shorted too early for the next leg of the decline, and bought too early for the next recovery bounce. Today's TF relative strength did little to help our signals, and we note with some chagrin that the bear was led by the YM. Usually, when the YM leads, regardless of direction, and the TF lags, our signals usually sour.
