Global Macro Trading Journal

I'm just not comfortable being short stocks here. Fed is saying the put is alive and well. Market might tank on buy the rumor and sell the news but it might rip on a new round of optimism. The last 'sucker rally'. seems 50/50. I rather have to chase the market down at 198 or so, than to have my face ripped by a rally. Got a pretty bad price on hedge 201.21 but that sell-off after that pop was ridiculous. I should have gone long there
 
SPX above 2000 with dovish Fed is a standard breakout type setup. I don't want to fight this now. Will monitor and wait for weakness (multiple intraday lower highs) for a re-short
 
Sold the nov contract as well. 99.82. The more stocks rise the more likely the Fed might hike. A sucker rally might tank this contract when people realize this
 
Overall, the Fed contracts were good gainers. I lost a bit on the short stock side but most of the loss came because I shorted yesterday at 200 and stocks grinded to 201 right before the announcement. The algo pop was quite small. There was plenty of time to hedge or cover even well after the statement was out. Goes to show, how inefficient the market can be. Overall, it was a decent day
 
I got a 3/4 position but I wont play this off 205. If SPX gets about 2000 and stays there, I'm bailing. It should work though. If the market can't rally on this, I don't see what it can rally on
 
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