Sold all the MOMO calls and RMO this morning.  Made a few G's.


Now I am long OGI and STIC.


My thoughts on this market.   Anything can happen.   But my first instinct is this is just a short covering rally.   I thought we were going to be down today and resume the correction.   

For now, I will remain long but ready to flip short in an instant.  


My target for NDX is 13350.   I will watch that level to see if it can get there and if it can breach it.


If so, we are going back to possible highs again.   But if not, this is just a short covering rally.


If we resume downside, number # 1 target is DE puts.   # 2 target is IWM puts.  


Ol Dawg

Comments

Post a Comment

Popular posts from this blog

 Odds of making a new high on IWM and SPX are now 50/50 IMO.    For the NDX I would say it appears to be going to 13600.   I can't see NDX making another new ATH at this time.     But anything can happen.   I may reduce half my longs depending on how the market trades in the last 2 hours of the day.    Again, I still wouldn't be surprised if today's action reflects 1st of the month effect and we have a down day tomorrow.    OD
Read more