Went Short
I’m not looking for 1987, I’m looking for a retracement.
We’ve seen bad price action after earnings for some big components. I’m looking for a test of 21d ema’s on pretty much everything.
Its only a start, but I’m seeing the signs I need to see for retracement. The wheels are greased for sure just a retracement. In fact when the retracement happens, they will make it look a little worse than what we’ve seen lately.
From there I’d be a buyer.
I started these trades today, long the 2x NDX, 2x RUT INVERSE funds, FAZ calls, long DRV, long ERY. I’ll sell on the pop.
I’m also long these junkers: ASTC, FSII, INSM, NENG, PXLW, SCLN, TSEM as well as some AMAT calls.
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