A Successful Straddle

As I stated yesterday, I closed out the day by taking both short and long positions in the market with the intent to losing one with a stop loss and outperforming the other with higher gains. Thus far, it has worked liked a charm. I was hoping for a bit more gains on the long side, but indeed the day is not over and momentum is slowly building as the day goes on. Plus, maybe for once I will gain from the PPT.

As you can see from the two graphs, both have responded to today's trading with volatility. I was able to get out of the one with minimal losses and capitalize on the gains of the other. It can be a risky strategy at times, but there are times when charts become very transparent. Today was one of them.