In retrospect should have just kept my index shorts on from yesterday. With the S&P 500 finally breaking out of this day long range, and slicing through 1066 I will add the same 2 instruments I had yesterday (TNA/BGU) short but make the position sizes bigger this time, instead of 2% each more like 4%.
I am debating the first foray into SPY options (puts of course) in about 6 weeks as well... I'm rusty.
Initial downside target is S&P 1056ish. Bulls need a close back over 1070 to set up any chance at "Magical Mondays".
I am very surprised at today's action as I thought the market would do little with no economic news. Instead we sold off because Asia/Europe sold off... which are weak due to the action in the U.S. yesterday. That is so circular as to make little sense.
Further in the strange zone, about 2/3rds of my long positions are in the green today thus far.
EDIT 2:45 PM - I am covering both instruments again as the S&P now crosses 1071. Obviously my trading of these ETFs this week has been horrid. When you break to new lows for the day you are not supposed to rebound and go right back up - but we did, and the trade was wrong.
Short TNA/BGU in fund; no personal position
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