Tied Up In This Mess of a Day
The market is up strongly this morning and it seems a little more than the normal pre-fed meeting uppity bias.
I held onto all my index shorts, fxp, srs. All of them are getting SLAAAAAMED so far today. SRS getting the worst of the beatings today. I thought we’d get more oversold.
I’ve committed this current trade to not follow todays actions and just hang onto to what the market is saying in the bigger picture and that trend is down. Will we bounce? Maybe, yes its happening now, but maybe more, maybe we get a reversal. Who knows? I know 3 weeks from now we should and will likely be lower. Sticking to it as painful as that friggin is.
BTW today would be the spot to short CVS according to my trade idea yesterday. Its up 2% right to resistance after an oversold bounce.
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