Im out for today on business. As we expected from the beginning of the week. The market stalled right at SPY 50dma as it was overbought and the bounce was at much lesser volume than the crash. Bottoms are a process rarely do you break resistance on first try. We are in a range now. Trade that range between SPY 200dma and 50dma
I am in above 80% cash position have UCO, 1/2 pos of PARD, and 1/2 pos BBX (stop at 2.39 my buy price) thats it in my main acct. And am short DTG
I have stops at my buy price on both PARD and BBX so to ensure I lose no money on this trade. UCO i am ok taking a bit of a loss on this as it can squeeze 20-30% in a week and due to my large cash position I can add to it.
Id post some charts but I have my phone hooked to my laptop for internet and so its a bit slow i got no bandwidth.
I will have my bb on me send me an email if you guys need anything. Ryno will be in all day so your ion good hands
The market is still not healthy..This time at least we have been prepared and warned for the dip. If you trade trade quick and fast. NO LOSSES more than a few percent on new positions added. We are not out of the wooods yet.