Trading Update / Disclosure: Closed Out DBA

December 28th, 2011

Warning: This is not a recommendation to buy, sell or hold any financial instrument.

I closed out my DBA long position today. It could easily keep going, but I sold for multiple reasons:

1. Overhead resistance is looming.

2. Price is rising on declining volume.

3. I had a nice profit on the trade and bearish reversals on dead cat bounces can be particularly violent. (In other words, fear of loss of profit outweighed greed.)

I felt the arguments for dumping the whole position into strength were more compelling than trying to pare it down to let it ride.

Finally, I wanted to free up capital for another trade that’s setting up. (Get the clothes peg ready for your nose when I disclose this next one.)

Posted in Economy | Top Of Page

One Response to “Trading Update / Disclosure: Closed Out DBA”

  1. alvinroast says:
    December 28, 2011 at 5:28 am

    I can’t wait! Anything that involves an antiquated laundry accessory that the iphone generation hasn’t heard of before should be fun.

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