At the end of the trading day today, I find myself ~40% long, ~20% short (via SDS) and 40% in cash. The two hedges (cash and SDS taken at 21.41 today) couldn't help my account being a tad over 1% down for the day. I did reduce my long exposure today but the open positions being small, I decided to give them room to run. Tomorrow should be interesting and I still think 1274 on SPX is very much on the cards. But before that, watch out for MA(50).
Take care and good luck!
1 comment:
People are running out of reasons to be bullish. Once everyone realizes the Fed can't give them tons of free cash and fight inflation at the same time, the panic button will officially have been pushed, this is just an appetizer if that happens. These markets look seriously weak right now, i would be 70 cash 20 short 10 long. I am still holding half my shorts and sold all my longs 50/40/10 cash/short/bonds.
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