TOT daily traders went 300% short at SPX 2093 about four minutes after today’s opening. Since then, the market has traded in a narrow range.
The high this afternoon has been SPX 2096.61, about 2 points above current levels. If the market gets up to its afternoon high again, I would not want to stay short. So lower the stop on the position to SPX 2096.61. If not stopped out, cover the short on the close and go into the weekend flat.
Have a great weekend, thanks for the opportunity to be of service, and I’ll email you again prior to Monday’s opening – or sooner if circumstances warrant.
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