Trade Recap

I booked profits on 1/2 my position in $FB this morning and was stopped out of my position in $GEVO for a loss. I’ve added the 3x gold miner $NUGT to the portfolio, and expect some sort of relief bounce in the miners here. I could be wrong however, so my stop for the trade is under today’s low, 5.30.

Something about this tape just doesn’t feel right to me. I was tempted to go long a bunch of stuff today, but couldn’t seem to pull the trigger. 1600 looks like a given near term, but there is still a bunch of supply overhead. So for now, I will continue to keep things light on the swing side of things. Cash is, and needs to be a heavy position here.

Bulls did their job today, now we need some follow through tomorrow.