That was too easy, hardly anyone died. There wasn’t enough time at the lower levels to stew up panic and cause people to chimp out. Suffice to say, I am suspect of this quick recovery and will not participate in the recovery.
Plus anyway, I’m already long a boat load of SPY and I own SOXL in my trading, in addition to everything else. The 25% cash I have on the sidelines is designated for momentum and rips. While this sort of qualifies as a rip, it’s still every early and anything can happen on evil Columbus Day — the time when some European moseyed down to America in order to execute all of the natives living on the land, getting fat off corn, trading in wampum like god damned savage animals.
Off to drink some coffee.If you enjoy the content at iBankCoin, please follow us on Twitter