Oh, dear. Bulls, bulls, bulls. You really wanted to squeeze me out through the Gates of Cowardice, didn’t you? They BLASTED the market higher, shrieking toward the /ES Fibonacci this morning, right after the opening bell.
And, where I am MOST vulnerable (small caps/banks), they REALLY blasted things higher, throwing switches to “Buy” all over the place.
Well, those attempts have sputtered. I did get out, at a loss, of a few positions that I “paper-handed”. Specifically RCL, ORLY, and NFLX. Those left some small scar tissue. On the whole, though, I stayed firm, and I remain fully invested across 18 different positions.
One particularly interesting item was the NASDAQ futures. They had a price gap (green arrow) which remained open in spite of a couple of attempts to seal it. This morning that gap was sealed, and then some, after which the /NQ beat a hasty retreat. To be sure, the ES, RTY and NQ remain green (as of the moment I’m typing this, obviously) but their balls-out assault has abated. In fact, they did it so deftly and with such skill, you might even say it was master-abated.
I only have a couple of energy shorts – APA and SLB – both those continues to do well (APA puts up 23% and SLB puts up 36% from my entries last week). The “No World War 3“; diminishment in crude oil is helping.
