The market is clearly in "no man's land", as we wait to see if the current market consolidation is going to resolve by printing a bottom or taking another leg down. While I remain bearish, until the market proves itself otherwise, I am seeing quite a few bullish setups. At least more than I had in January.
Therefore, I want to position myself both long and short. Here's how I am playing this market. I am using ultra short ETFs like SDS, QID, SKF and SRS as my bearish play, and going long individual stocks with bullish setups, like my recent WMS trade.
2 comments:
You were right on the money about CNX. I sold out too quickly at 78.83, but I can't complain about the $353 gain.
Rolled all that over into WMS at 39.00. By the way, do you post your gains with or without commission cost?
Ronald,
I don't post commission cost.
Your CNX experience is why I try hard to stick to my stops and targets.
Paul
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