20/05/10

Rushed into the short position on:
1) lack of bulls creditability to push market higher even after kind of VWAP breakout to the downside;
2) energies and industrials - the weakest sectors - were making lower lows unlike ES;
3) and of course internals were very bearish - in favor to the trade.

But the market have pullback some batch of points to the upside. And the position was fixed by stop loss order. What was wrong?
1) The spread between open price and stop loss order level was too small.
2) I did not notice that $tick unlike $spx or ES have made lots of higher lows - that was bullish sign calling for, at least short, upside pullback (click the chart above to see).