Rather unusual happening. SPY gave an exit signal after the end of day today. See chart below. We have had a nice upturn for a while and it is always a shock to see the exit.
The short term timing may not be perfect as the market seems oversold to me; but caution is certainly the word of the day.
I also see an exit signal on PCP, so I will switch to a down bias and just hold my puts. Currently sitting on puts on SNDK also - I am biased to the down side on it.
My 401K remains long, although I do have hedges on it..
No comments:
Post a Comment