Superb Weekend Getaway

 I had squared off my STT long positions on Friday. This leaves me with two questions. One is when should I re-enter the long trade? The other is at what level does STT become short?

I will re-enter the long Nifty position if Nifty futures trades above 5683 (it was around this level that I cut my short positions on Friday) If that does not happen and Nifty falls below 5615 then I will go short on the Nifty. In all this, LTT remains long until 5561 is broken at which point I will cut my LTT long.                                                                        


To summarise:        STT                            LTT                         Exposure                                                            Current Position       NIL                            Long                       1/3 Long                                                    

Probable Trade I      Go long > 5683       Long                        2/3 + 1/3 = 100% long

              TradeII      Go short < 5615       Long                       -2/3+1/3 = 1/3 short

              TradeIII     Short                         Cut long < 5560     -2/3+0   = 2/3 short

              TradeIV    Short                        Go short < 5447     -2/3-1/3 = 100% short

No wisecracks and no long stories about trading today. I had a great 2 day holiday at Lake Pawna,  Club Mahindra Lonavala over the weekend. It is their latest resort and I think it is their best yet. Superb location and with completely unspoilt surroundings. The only thing I could think of over there was to take a one week holiday in the same place instead of the 2 day that I was taking! Hopefully some time soon!