Now that’s how you come back from a 3 day weekend. I noted, in my hybrid post, that I thought the low was in for the day, it was. There was too much underlying strength in the market, and when the small caps got moving, the rest was history.
I decided to take some $SINA off this afternoon, but will continue to hold a half size position, I want 70 on my other half. I also decided to add some $CROX to the portfolio, and a little $MCP. MCP may need a little more time, but I see a nice flag setting up, and I want to be part of the next stealth move higher, stop under 11.
I still hold a little $SDS and my basis is right underneath this level. I will hold a bit longer.
All in all, it was a good first day back. I’ll see you guys tonight with some trade ideas as we head into Wednesday’s trade.
Off to the gym.