Kudos to MMs

[nitro]

NFV 1107.46. SPX 1132.99.

NFV appears to be following SPX, which I don't mind as long as it is lower. However, that is not really what we want in practice. We want NFV leading, and SPX following, where ever it goes.

Pragmatists will tell you in a pinch, making money will do. But this is about more than a battle, it is about the war.

 

[nitro]

Edge got very close to contracting to 24 and therefore taking profits on the "35" units, but no cigar.

Still holding short from 1089, 1133 and 1142. All entries in SPX terms.

 

[GTS]

This is a summary I have since 9/2 for those that like to track using an average basis rather than treating each position as a discrete unit.

Nitro, if I made any mistakes please let me know.

Date  	         Action	Quant	 Price 	    Position	 Basis 	      Realized Gain/Loss
09/02/10	 Short 	-1	 1,089.00 	-1	 1,089.00 	
09/03/10	 Short 	-1	 1,104.00 	-2	 1,096.50 	
09/09/10	 Short 	-1	 1,107.00 	-3	 1,100.00 	
09/13/10	 Short 	-1	 1,121.75 	-4	 1,105.44 	
09/15/10	 Cover 	+2	 1,116.00 	-2	 1,105.44 	 (21.13)
09/16/10	 Cover 	+1	 1,118.00 	-1	 1,105.44 	 (12.56)
09/17/10	 Short 	-1	 1,133.00 	-2	 1,119.22 	
09/20/10	 Short 	-1	 1,142.50 	-3	 1,126.98

 

[Pekelo]

Quote from GTS:

Nitro, if I made any mistakes please let me know.

You did...

Quote from nitro:

We exit the entries at 1121.75 for +5 and 1107 for a loss of -9. So we lock in a loss of -4. We are still holding the 24 units and the 14 units at a loss.

Instead of the Basis column, there should be another Price (covered) column, that causes the confusion... Both cover happened around 1117...

 

[GTS]

Quote from Pekelo:

Instead of the Basis column, there should be another Price (covered) column, that causes the confusion... Both cover happened around 1117...

The price column already is there and shows the price that the trade was executed at (short or cover), basis is the overall position average price and is not affected by covering the short position... You only seem to be questioning 1116 vs 1117 for the cover price?

For the day in question (9/15) Nitro's post said "SPX 1,116.77" and "We exit the entries at 1121.75 for +5 and 1107 for a loss of -9" both of which implies somewhere in the 1116's: (1121.75-5 & 1107+9) so I went with 1116, I will update it to 1116.75 exactly though

The second cover trade (one unit on 9/16) was clearly executed at 1118:

"09-16-10 12:24 PM

NFV 1104.57. SPX 1118.47.

Edge is < 14 and we are forced to exit the 24 unit and lock the loss on it. We lose another 14"

 

[nitro]

I will respond to the above sometime today.

 

[nitro]

NFV 1108.40. SPX $1124.07.

Edge is ~16. We are forced to take profit on the 35 units, + 18. We are also close to being forced to take profits on the 24 units since edge is very close to 14, but no cigar.

Pre-market, we could have taken profits on both edges, but maybe to keep things simple we act only RTHs.

 

[nitro]

In the spirit of disclosure, NFV is being backed by a small account. All trades in the ETFs SPY, SDS, or SH. As soon as I am flat here, all trades are real.

 

[Pekelo]

Quote from GTS:

You only seem to be questioning 1116 vs 1117 for the cover price?

No, 1 point here or there doesn't make that much of difference. I question your P/L column, that should show close to +5 and -9. (instead of -21 and -12)
I guess you are trying to show the theoretical difference, but who cares once a trade is closed?

 

[johnnyqpublic]

Quote from nitro:

In the spirit of disclosure, NFV is being backed by a small account. All trades in the ETFs SPY, SDS, or SH. As soon as I am flat here, all trades are real.

Nifty! Is the trading automated?