June 17, 2011

So my SPY position is below the 0 line but as I mentioned earlier I’m not going to sell it.

You have to follow that rule more literally when you’re day trading with tons of margin. I don’t believe this trade is a lost cause and I’m not in any danger of blowing my account (the way I might be if I was heavily leveraged with ES, for example).

As of close today:

SPY: -$10,170
Hedge: approx $4,830.70

The hedge lessens the loss so I’m not really down $10,000 at the moment.

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