If you are a bull today, then today frankly sucks. The trading sucks too. 

I came into today, wanting to add some more long exposure, and even do so aggressively. I ended up only adding one new position to the portfolio, and even that one I regret. Not because I didn’t follow my trading plan, or go outside the scope of my trading, but because I don’t like to lose. Nonetheless, my plan is still being followed, and I am managing the risk appropriately. So no worries. 

Tomorrow will be key though, do we bounce back like we always seem to do, or are we headed for lower prices. I give it 50/50 either way. 

The candles don’t look good at all – much of them are hard fades off the highs of the day, engulfing the entire day’s previous candle action.

Not ideal. 

But we have seen this market come back from worse things, so I don’t recommend going into full “hide yo’ wives, hide yo’ kids” panic mode right now, but you should be considering how much exposure you want to carry into tomorrow and how long you really want to be. Right now, less is better. 

Here’s the bearish watch-list I am trading from.