While this potential rally is still dripping at the ears, last-half action today indicates selling may be exhausted for now. If Monday is live on the tape, I will attack long with both hands.
I won't be looking for significant upside, especially in terms of duration, but the first shot higher should be best for now; before we either back-and-fill for retests, or just blow to lower lows.
If the market gaps lower on Monday and blood flows yet again, then strike all of this. I'll be glad then that I've already lightened to more of a market neutral position.
The Streaming Twit today >>> was wild and woolly, but it's clear to me I've got my mojo back (ha!). My accounts finished the week up >3% in the end (Monday was the difference). By Monday coming up I won't even remember this week was a bit of a struggle.
I'm off now for the weekend, although you can be sure I'll update my live list of long-bongs from some remote island nunnery location. Beast out.
Total Position: I'm 54% invested overall. I'm technically 1.4-to-1 net short; however, more that half the short exposure is now in Golds and 15% of my long exposure is a 3X's Financial ETF, so you tell me (I'm calling it neutral-to-somewhat long. The golds will likely move lower Monday if the financials are rallying).
Currently long (according to size): WNR, SNDA, NFLX, FAS (Financials 3x's ETF), IOC
Currently Short (according to size): AEM, BWA, GDX, ALV, AUY
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