I'm going to try to stay patient until Monday. TWTR I'm keeping on the trading portfolio as a short, I like how it looks.
I really like SQQQ, SPXU, FAZ and have room in SPXU and FAZ to fill out what are half size positions.
However if you are use to the concept of a reversal process and feel comfortable with proportionality, you can see in each they are just on the borderline, I think Monday is probably the most opportune time.
That being said, the signals in these are so strong that I'm really being VERY myopic about an entry, does a 1 or 2% intraday draw down that's going to happen just as a function of normal intraday trade, really matter in the big picture?
Still we have these concepts for a reason, they serve us well and it wouldn't be a very good example to abandon them to an emotion called greed.
The trading portfolio includes the following as of now: (All long) MCP, SPXU, SQQQ, DGAZ, IOC and UVXY.
The only short (many above are short exposure via inverse ETFs) is TWTR.
UVXY is the biggest loser, but is still within the risk management parameters and represents less than 2% loss of portfolio before margin. The leader is MCP at +16% and TWTR a little over 11%, not bad for a single day of trade.
In my view, I'm very relaxed with all of these positions, this would be the 4th set of trades in this portfolio and I think these are all set up to fire.
Is interest rates about to start going up?
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Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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