Current Long Positions (stop-losses in parentheses): TICC (8.64)

Current Short Positions (stop-losses in parentheses): SPY (113.30), DELL (13.26)

BIAS: 25% Short

Economic Reports Due Out (Times are EST): Wholesale Trade (10am)

My Observations and What to Expect:

  • Futures are moderately higher
  • Today will mark the fifth time we have attempted to break through the downward trend-line, the last four times have been unsuccessful. Today it stands at 1104 on the S&P .
  • Though futures are up, the gap doesn’t look like something that can hold once the equities markets open. 
  • Came close yesterday to testing the 200-day moving average.
  • The bear kill-switch resides on a break of 1130. 
  • A close below 1091 today would likely lead to additional selling next week.

Actions I Will Be Taking:

  • Looking to add another short position to the portfolio if we can see some weakness in the market.
  • This morning’s gap up can be faded at the open should it hold until then.
  • I will tighten my stops on my two short positions if we can see some substantial selling today. 
  • Will only look to hedge the portfolio if we start trending upwards in a very decisive manner.

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