Review of my Chat Room Stock Day Trades for Wednesday Nov 3, 2016.
Again this morning I will be very brief – yesterday and today have become one trading day as far as my account is concerned (and perhaps right up to election) – so I am going to do an in depth blog post this weekend explaining my reasoning. Also last night we worked until the wee hours in the morning on chatroom hardware and software upgrades so that took my time. So you can expect a detailed blog post this weekend.
Yesterday for me became all about whether support on $SPY and $SPX was going to hold (if touched). Folks in the chat room know I took a number of small scalp trades to build my small account. But later in the day I pivoted to a contrarian large entry in my swing account and also in my small account (day trade account). I pivoted to $XIV hold / swing.
If $SPY $SPX continue to down draft I will consider exiting. I took that trade late in the day.
So basically my risk to reward in my thinking is intact – more risky than I would normally be – but again…. look to a very detailed blog post on weekend.