The bulls are faltering big time today and the market is seeing its biggest sell-off since February 8th.
I traded one short position today, and made a rare day-trade out of it for a quick 1.7% profit. Ideally, I would have liked to of held the position overnight, but the volume is weak, and I’m not convinced that the bears have a full handle on pushing this market lower in the days ahead. So I closed my short position and took the profits.
Right now, I am 100% cash, and the long positions that I did have this morning, I tightened the stops, and eventually got out of them as well. They didn’t fare so well with this market, but I did manage the risk, and as a result I spared myself from taking on additional and unnecessary losses.
Below is my watch-list to trade from should the bulls change the sentiment and push this market back up in the coming days.