After closing out my long position in QID (Nasdaq UltraShort ETF) at the end of the day at $12.34, I bought a position in FLIR Systems Inc. (FLIR) at $28.35 with a stop-loss at $27.19. There’s no certainty that today’s sell-off won’t continue into tomorrow, however, I felt that it was appropriate to begin dipping my toes in the water here, by adding a new position in the portfolio for the next leg up in the market. More than likely I’ll be adding more positions to the portfolio tomorrow, ideally on weakness.
Here’s my chart analysis in FLIR
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