I'm targeting SPX 1164 to increase short exposure. We should have a snap-back after hitting DJI 5-minute, 370-unit M/A. If we don't then it is a low-probability meltdown.
Sold 4% SCO at 12.79, looking to buy back lower.
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good morning Steve.
ReplyDeletewhat do you mean by "low probability meltdown"?
pima
ReplyDeleteUntil critical support is broken I expect 2 to 3 attempts to crack it followed by sharp rallies to lower highs. If the market takes it out in one fell swoop then it is part of a meltdown, which I don't consider the probable outcome.