The market is getting hammered this morning and I must say that my performance is less than stellar. Not because I'm losing money but because I'm not making more than I am.
I feel confident in saying that the market will not go to zero today, nor will the bear market end anytime soon. As a result I'm trying not to get too excited and start selling into the hole.
Take a deep breath.
I followed my plan and bulked up my BAC short, sold my MUR (gave back a point and kept the other nine that I made in the last three weeks), trimmed some AUY (to bank profits)...have a chunky short position in GM already in place so I'm comfortable if not happy with my exposure. Oh and I have copious amounts of dry powder. Trimmed my chunky NFX position yesterday and will look to buy on a pullback to support (impressive breakout by the way).
A bounce off the lows would be nice in order to get better entry points but we just keep knifing lower, down 240 pts. on the DOW now.
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