All the Confirmation I Need: Market is Breaking Down, Barreling Lower

Whether we delve into the depths of the recent crisis or not is not relevant. What is important to note is the uptrend has broken and we’re now breaking lower — paired nicely with a break in oil and also junk bonds. This is all early stages and the drama can get all the more rueful.

I’ve been spending my morning, reading, amongst other things, planning on how to best capture the essence of the fires to come. I’ve been selling out of my recent Chinese gambles — since they were meant to be quick trades. No sense in holding onto dead weight, whilst the ship is sinking.

I sold CCCL -6%, JP -9%, SFUN -7%, and SORL -2%.

I bought SOXS — because betting against semis is fun and easy to do.

My trading account is about 50% cash and I’ll be unwinding the majority of my long positions soon.