Buying NMX at $85 could have been an awesome trade!

If I wouldn’t have sold it too early.

Yep, I got out of NMX yesterday (Monday, June 16th) at $88.17. Today it traded as high as $93.64. Oh, well. I made an easy 3 bucks per share, but left over $5 per share on the table.

In choosing between taking profit on long DOG or long NMX positions (which have somewhat negative correlation), I chose Nymex and it was a mistake. Not because I didn’t get out from DOG, because I didn’t keep both! Mathematics doesn’t work perfectly in the real market and so correlation. Today both positions went up! Dow Jones Average Index fell 108 points (which is great for DOG), but NMX actually gained $2.87.

In any case, the daily balance of my portfolio is at a new high, so I am not complaining.

NMX – Nymex Holdings Inc.

DOG – Short Dow30 ProShares.