The chart speaks for itself (the symbol is GPRE):
![](https://slopeofhope.com/wp-content/uploads/2024/02/slopechart_GPRE-640x345.jpg)
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As I wrote yesterday, the sine wave pattern on most ETFs got nuked, but for one survivor: the Dow Utilities fund, symbol XLU. Today’s tumble helps solidify this conformance, and these are the only short-dated puts I’ve got, with 31 days left. I’m going to keep hanging on!
I was doing the typical self-flagellation about dumping my March SPY puts this morning. True, I didn’t nail the exact bottom, but I’m definitely not regretting taking those profits in a big hurry, since I get exceptionally nervous about short time horizons!
The long-suffering precious metals bulls have got it even worse now. Even the descending trendline for the metals miners has been broken.