I’ve been patiently waiting for some sort of retracement from SKF and TZA and finally got a small ones.
Bought starter position in SKF and TZA.
It’s a good thing I sold earlier this morning when the warning bomb blew up at 10:00am EST. Sometimes, if you are thinking of getting out; it always pay to be the 1st to get out and not worry about getting out too soon. It is to your benefit when others are still “thinking” of what to do (indecision) while you are getting out; otherwise, you will be fighting for that narrow door when everyone is running for exit.
The daily SPY bar isn’t looking good, it took out the low of the last 4 bars! See chart below.
The weekly SPY chart now shows a red bar; not very endearing for a bullish outlook.
Good Hunting!If you enjoy the content at iBankCoin, please follow us on Twitter