I elected to move to 100% cash into the weekend, inside 12631, getting rid of everything, including my bond short with my main TBT entry in the $54-handle; I was fortunate to dump my TMKR long yesterday before today’s sell-off.
I took a few small losses in my MA short and recent short bond adds. I took off my REIT short basically for flat, and I closed out my AMZN SBUX shorts for the rest of those wins.
Sometimes, an audible at the line of scrimmage to wipe the slate clean and look for fresh entries next week makes sense when the market is flashing tons of mixed signals, as I believe this one is. Small caps are still quite weak, but dip-buyers are out in force in this afternoon in the S&P, Nasdaq, and bonds.
I wil give an objective look at the broad market over the weekend in my Weekly Strategy Session, available to 12631 Trading Service members at no additional cost. Be sure to check it out at a very reasonable price.
Have a great weekend and I will see you there!
Cashish, Tatuaje, and no worries makes for a great weekend, Chess. Hope it’s a good one!!
Thanks, Unc. Same to you.
AG broke my heart going into the weekend! But MGM short is trying to hold on. And i finally jumped into the CPL business with you. Thanks for bringing that one up a few days back. I had lost track after the strong run up this summer. Enjoy the weekend!
Are you subscribing to Fly’s theory of market melt down?