I didn't take any new positions today... Sold all DXD on Friday Sold 1/2 SDOW and 1/2 DRIP this morning....all 3 have zoomed higher since I have sold... I did go long SVXY around $45 on Friday... That's the only long position I took...
@conduit Sure. The gap on Friday was due to Brexit. The market still trades technically, though. It's just that the magnitude and volatility is greater than usual. Friday was nothing new.
Market met some support this afternoon. Japan and China bounced up this morning. It'll all be good by Friday.
Out of SVXY at $49.00..... After seeing the markets push alot higher the last 3 days in a row. Dow gaining back 600 points and only seeing SVXY up from low 40s to $49 its time to sell....thought the gains would have been more impressive since there has been 3 straight huge up days but nope....will buy back below $40 on next sell off.
This time around, it took four days until we were back in the range of the day prior to the gap. Almost closed the gap as well. So, for those who like remembering, please remember this the next time the market's gap down by 100 points. It's not the end of the world.