Stocks repricing higher based on 2 things: 1) Fed was more dovish than expected. 2) China willing to bail out Russia, which was believed to be replaying the 1998 default.
No...today I only sold. Went long CVOL yesterday but only about 1/2 position ... Today I sold 4 out of 6 longs. Most were sold this morning... SOXL UP $1.50 from where I sold it SPXL UP $3.00 from where I sold it XIV flat from where I sold it TNA UP about .50 from where I sold it... So I left some money on the table. With 3x and 2x etfs you just never know..... SPXL is $10 higher from its low just a few days ago TNA same thing SOXL same thing... Its funny when you see people jumping into the market after a 700+ point rally in 2 days and just 3-4 days ago they wanted nothing to do with the market....stocks are already up 5-20% in only 2 days....holding TQQQ and ERX. These markets are not buy and hold. If oil drops below $50 this market is going to fall apart. This whole rally is nothing but fed manipulation by them saying we haven't a clue when were going raise rates....the answer is plain and simple ..they give the markets what they want. They aren't going to raise rates in 2015. That's all talk. That's all it is. With a $4,000,000,000,000 balance sheet where are they going....no where. They have no exit plan...QE 4 before rates go to 1% that's my prediction .... As for shorts im holding off I think...I would be truly baffled to see another 200-300 point gain tomorrow but with this market you never know. Might wait until the Dow reaches 18k + to add shorts....but also might take a little bite and add a short or two tomorrow ...I predicted a 3% rally last week after fed meeting and it happened.. Buys for me are SRTY under $30 JDST UNDER $15 CVOL HOLD A POSITION buying more under $1 TVIX hold a position will buy at $2 or when vix gets down to 12 Will let go of TQQQ above $100+ tomorrow ERX HOLDING Again oil dropping under $50 will set up for heavy selling. This rally is nothing but fed talk. Sell rallies.....you will be able to buy October lows again...once this fed bubble unwinds you will be able to buy everything a lot lower than October lows...
In the most simplistic terms, I think it is a little early to even 'leg in' selling. However, Cheap oil has been GREAT for the markets. Lower is going to be GREAT for the markets. Gartman $10 oil. (Fusion 10 years off or less) Putin said: peeps prepare for 40 bucks. In 86 the oil glut got us to $7 a barrel (about $20 today). There is more crude and more is coming. More energy source options to replace crude (same as crude replaced another energy source when it came online not that long ago).