What the hell just happened to my portfolio?

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With breadth being so low, I assume most of you are in the same boat as myself. I don’t even own any silver, and I was still down over 4% on the day. My portfolio and charts can be found here. I didn’t sell anything into the madness, as I was caught up in different business. The Fly predicted this day was to come, and here I sat 85% invested into the market, all on the long side. I felt pretty burned by the close of the market with the relentless selling. I couldn’t manage to employ any of my cash here.

So what am I doing now? Everything is pointing to a mean reversion opportunity, for both precious metals and their miners, and some equities as well. I am waiting for the bounce that The PPT is saying is imminent in most of my positions. My main position USG is touching oversold territory with great bounce statistics. The same goes for KLIC and RTEC. That is comforting considering the critical technical points price is currently trading at (see resistance and support lines on Finviz).

I keep wondering what charts I should post for you guys to take a look at, but I honestly don’t know whether I should give long technical setups or short technical setups. A bounce tomorrow or the next day could change a lot of things. Instead, lets talk about one of the most beaten down stocks right now. Apple. It’s at a critical price point in my opinion.

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The level I’m watching is 419.00. If it breaks that, we could head to 400 pretty quickly. If we bounce tomorrow, we could head back to 440.00 this week. Should it break support and hit 400, there is the possible development of a falling wedge. We’ll cross that road when we get there.

 

 

 

 

 

 

 

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