played this one right. I pissed away a lot of money trying to bottom
fish on the way down, but finally got out before the real mess hit.
Then, everything I read said that there is usually a fake-out rally
before we attempt new lows. Plus, the bottom was too V-shaped to have
high success probability.
Now we have fallen below the 200d on the Nas, SPX, and NYSE. The day
just got uglier and uglier and ended at the lows on 25% increased
volume.
I bought QID last week and pressed my position on Thursday. I was a
little too early, but I didn't sell out after Friday's big run. In 2
days I went from being down 5% to up 1.5%. I also didn't go long
anything because we never got a confirmation day.
So, I am proud of myself... for now.
Oh, and I have small short positions in IGT and CEG now.
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