Well that was disappointing, after near perfect short set ups on the chart for many stocks, and with war threatening, it looked like an ideal time to open short trades on Monday.
However, with the Ukraine situation cooling, the global market had a significant reversal to the upside last night. The upside reversal has ruined, or at least put a dent in, the near perfect short set ups on the charts.
On Monday I shorted ANZ, CTX, and WBC, but with modest volumes. My plan was to increase the short volume on these, plus open new short trades, when the sell off strengthened. However, due to the upside reversal, I closed all three of these trades this morning for a small loss on each. In addition, I closed my BHP short for a modest profit this morning.
What to do now? Probably just sit back for a bit and wait for this choppy period to subside.
