UPDATE: *TRUMP PLANS TO DELAY IMPOSING TARIFFS ON AUTO IMPORTS
The market is supposed to be a lot worse than this — but we’re rallying. I could embed myself in a stubborn set of trades and wait for things to go my way — or extricate myself from the situation and wait for a better environment that suits my temperament. I chose the latter.
I cleaned out of most of my trading positions, raising cash to 70%. I sold out of my inverses too, but kept DRIP for now. I’m also still long NUGT and it’s a 10% position and I think I’ll hold it. I have a strong bias to the downside, especially on names like NVDA.
But the market looks like it wants to rally. I cannot force myself to like stocks and I certainly don’t want to get squeezed here either, so cash is my best option.If you enjoy the content at iBankCoin, please follow us on Twitter