As good as today's bounce looked I am still think this market is guilty until proven innocent. I locked in a small gain today, way too early, by closing out of my TNA shares around $47.40. I flipped to the shorts on SPX options, by buying puts at 1330. As long as the SPX stays below 1330 for the remainder of the week I will make a gain. I do not see much Europe is willing to do and technical charts shows there can be more downside to come. I feel better to short here than to go long so that is why I changed position, however I do not have much in the market after selling out of my TNA.
Ahead I am looking for commodities stocks and specifically ones related to silver, but for now will hold cash awaiting for a further drop to get in cheaper. My focus is on AG and EXK.
Good luck tomorrow.
Posts
