Up until about 4:30 last night working, I awoke later than usual at about 9 and what a surprise. The Fed is out to knee-cap me again. Those fuckers. Down 2.5% as I write.
What do you know? Right to 12K on the DOW. That's my line in the sand. I've taken down a few shorts to control risk and am tightly monitoring my stops on all positions. Most have yet to be hit and we're going to have to hold 12K to send me scurrying for cover. Until that happens I will remain unimpressed.
Matter of fact this is probably a gift to the bears. Especially those looking for better entry points. I don't plan to do much today besides play defense. I'm not looking to immediately short into this since it doesn't fit my risk profile. I'll protect my equity first and foremost then re-evaluate when the dust clears a bit.
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