Not complaining about the dog days of Summer after yesterday's active session and a wild after-hours trouncing of Facebook, seems rather quiet this morning, seller's remorse as the Equity Futures snap back.
Still on ST BUY with daily SPX close STOP at 2826, but you really should be alert to very quick reversals and be ready to get out of any position, Long or Short, any second. SPX 2830/32 is an important support level.
SPX should test the record high but any failure will be disastrous for the bulls and will signal an important IT topt. Basically, that's my criteria for a new bull phase or an IT decline.
I added new QQQ Puts & rolled some contracts forward into October with higher strikes & am now about 23% down in that portfolio, my high-risk trading. Added a small VXX long that is about breakeven, made nice profits in Crude long and short trades and also in ES long. That final rally last afternoon was a good ES long trade to end the day. I was tempted to trade after-hours but too tired.
IS the HOUSING bubble bursting?
Edited by dTraderB, 26 July 2018 - 06:31 AM.