I feel fortunate to have dumped my longs yesterday enabling me to miss out on the bloodbath today. I know I said I would sell TZA if we got more selling today, but the greed is setting in and I will continue to hold the position. Plus, I’m bound by the laws of mathematics to hold.
I did nothing today keeping my portfolio as is, still long $MCP, $RENN, & $TZA. I have a boatload of cash to deploy when the time is right, but I’m in no rush.
I would love to see a gap lower in the am at which point I will start to dip my toe back in. I’ll be on the hunt for support buys tonight, and I’ll be sure to pop back in tonight with my findings.
Hope most of you guys made it out alright today, it was ugly.
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For some reason I couldn’t comment on your post last night. What do you think of the PM miners here?
GDX and GDXJ are at good spots right now… good buying volime on both ETFs.
my favs are ABX, AUY, SLW
I agree. I like the miners for a trade here.