Following our previously discussed risk override strategy we closed our QLD position today shortly after the open when QLD turned from green to red and as a result ended net flat for the day. This strategy is on top of the limit stop set the day before when the positions were opened and has saved us from 5 different green open to red reversals over the past 2 months and has saved a net of 6.2% (which is not shown in the performance metrics). We'll follow the same strategy for any new long signals although tomorrow could be extra iffy and we are only long 20% of our normal size.
The entire tech center is under extreme selling pressure and Turnaround Tuesday may just be the beginning of more pain to come for the bulls. Amazon gave back all of yesterday's gains.
We closed our little TBT trade today for a .7% loss and will look for better odds for our next venture into this issue.
