2x INV RUT POSITION REDUCED TODAY..

I basically could not pass up the daily 10.20% gains on top of this winning trade, so I reduced the position by 60%... 40% is still riding and I will re enter that on any pops. I do see a short term bullish divergence setting up that may need some additional support from other buy indicators to get it going. However we are still in a negative MOMO area on my charts...although it is a bit extreme in the short term. I will be watching for the exit of this area and will let you know when I see it,...at that time it should put us into a more easily tradable bear market environment. Until then.... be careful with holding any long term bullish positions,.. as I see we could easily get to DOW 8800 or lower before the baby bear is over.

Dev, thanks...where do I send the bottle of champagne?

I basically could not pass up the daily 10.20% gains on top of this winning trade, so I reduced the position by 60%... 40% is still riding and I will re enter that on any pops.

I do see a short term bullish divergence setting up that may need some additional support from other buy indicators to get it going.

However we are still in a negative MOMO area on my charts...although it is a bit extreme in the short term.

I will be watching for the exit of this area and will let you know when I see it,...at that time it should put us into a more easily tradable bear market environment.


Until then.... be careful with holding any long term bullish positions,.. as I see we could easily get to DOW 8800 or lower before the baby bear is over.

Dev -- is that 8800 or less the target for this leg down or a longer term bear bottom. TIA

Dev -- is that 8800 or less the target for this leg down or a longer term bear bottom. TIA

I'll say this leg or next.
Although I'm sure how you are defining legs.
I'm never really focused on the long term, which for me is 12-24 months, because of the many trading opps between now and then.