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!
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Looks like the next leg down is starting as I type. Minus 300 or 350 today maybe.
Agreed. Just added more TZA.
Quick! Retrieve! or Retreat! or Something!
Ha! ha! You sure know how to rub it in, eh?
Regardless, you are the only one who pointed out the mistake for me. This I THANKS you!
Cheers!
Added more SKF.
Stopped out of SKF for a loss.
Reduced position size for TZA in the morning and looking like it will be stopped out for the rest soon.
Buy back SKF with a stop at below today intra-day low.
Addback TZA I sold earlier with stop at today intra-day low.
Walked away for awhile and then came back to find out I was stopped out on all SKF and TZA for loss. (a small ouch! but definitely acceptable and in line with business plan)
Flat on SKF and TZA.
Going to walk away again.