Except for the UCO, I have still not taken a long stock position in my personal account (although I did in my TSP). I'm looking at SPY as a possible conservative play to try to catch a bounce. No postition yet. Watching, waiting.
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Except for the UCO, I have still not taken a long stock position in my personal account (although I did in my TSP). I'm looking at SPY as a possible conservative play to try to catch a bounce. No postition yet. Watching, waiting.
Bought SPY @ 76.30
Is an afternoon reversal and some follow-though on Monday too much to ask? S&P now 754, Dow down 200+.
If the market looks like it is going to close green, I will add some FAS to my SPY position before the close, looking for follow thru on Monday. It must be green just before 4 PM, however, otherwise I'll stick with just the SPY position.
Nice rally in oil this afternoon, also.
With the S&P down over 1% at the close, I did not add to the long position. Still holding just SPY.
I do see a snap back rally as a good possibility this week, but I must say I am a bit less confident after I received Trader Fred's signals for Tuesday (trade made COB Monday). I get them in advance. :toung: I will post it on the site after 12 noon ET Monday. It surprised me.
My SPY position is down a modest 0.35 and I am a little torn. I can't help but continue to believe we are going to see a snap back rally, but Trader issues a buy signal on SDS (2 x S&P short) at the close of business today. Sheesh! Sounds like a break of support. I should probably take my small loss and be done with it.
Fred's signals are not always accurate to the day so maybe I will get lucky enough to get a late afternoon rally today, and carry into tomorrow before the selling continues.
I hate when I have to use the word "lucky".
Well, luck didn't work. The SPY position is now down 1.65 or 2%. Bad, but not horrible. I knew there was a reason I didn't buy SSO or FAS on Friday. :eek:
Still holding but quite worried because of Fred's SDS (2X short S&P) buy signal for Tuesday.
Also, still long UCO from 5.95. Closed today @ 6.22.
Limit order placed: Buy SSO @ 18.15