The market gave us a gift today by putting QLD momentarily in the green before its day long plunge. As a result we were able to exit our small position close to the open as green turned to red, leaving us flat for the day once again. This little risk management strategy we've mentioned multiple times...not allowing an overnight gain to become a loss the following day...has once again saved us some coin, other than commission costs.
For Thursday the QLD signals are flat and we are in cash. Continued weakness in Amazon...which opened down 100 points...as well as pervasive weakness in the whole FANG gang....means we are assuming an aggressive risk trading stance for the near term.
Note that the ATR and OC volatility charts are upslope...not a good sign for the bulls or buy and holders.
