Plan Longs at Key Levels - Trade in smalls
I have been anticipating the broader market's decline for some weeks, despite good fiscal support and a growing economy (no hyper inflation!), there are still issues which serve to spook the market; these are:
- Debt ceiling still has not been resolved,
- "Taper", the market words which are in effect positive for the market will serve to further spook the market on the basis of misunderstanding what tapering actually means (and this is also just unwinding the Fed's ridiculous QE - given that its Reverse Repos aren't keeping pace with Bank reserve build)
- infrastructure deal still not agreed to,
- left field issues like Evergrande etc.,
VIX index is now backwardating, and the market for swing traders (about 20% of capitlaisation) is in net loss.
I am now planning key levels to start being long in the market. To this end I will be:
- buying on limits in smalls and building a position. I am not chasing the market and I think more downside is to be experienced.
-I will also be exiting long put positions for profits.
- holding strategic long SPY positions (no need for stop losses or to sell the broader market)
- Debt ceiling still has not been resolved,
- "Taper", the market words which are in effect positive for the market will serve to further spook the market on the basis of misunderstanding what tapering actually means (and this is also just unwinding the Fed's ridiculous QE - given that its Reverse Repos aren't keeping pace with Bank reserve build)
- infrastructure deal still not agreed to,
- left field issues like Evergrande etc.,
VIX index is now backwardating, and the market for swing traders (about 20% of capitlaisation) is in net loss.
I am now planning key levels to start being long in the market. To this end I will be:
- buying on limits in smalls and building a position. I am not chasing the market and I think more downside is to be experienced.
-I will also be exiting long put positions for profits.
- holding strategic long SPY positions (no need for stop losses or to sell the broader market)
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