October started off with a 200 point drop in the DOW and similar losses in the other averages. Obviously, my most recent trade, selling a SPY put was ill-timed. I was writing about going short. Now that I am a tiny bit long it muddies that thinking.
My current plan is to double up long if we get another hard down day or two. Friday's employment report may provide an opportunity. I am thinking that chart support levels will hold--we'll see.
Long SPY
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