I sold IWN, IYR and EEM at break even or down a few pennies, all of which I was prepared for. My TBT and DBC still remain in play, but I’ve raised my stops to lock in some of those sweet profits. My indicators are slightly less bullish, and with price falling below some key moving averages, I’m in no hurry to take risks in this environment. Let your winners run and cut your loses.
I’m working on a tutorial to explain why I scale my charts to ATR and the value of non-linear time graphs. This requires some energy, and since I have other ideas to work on, I find myself with little drive. In time, this will come together, but since the move to wordpress has disrupted my routine chart posting, I will take advantage of the moment to rethink the method of discussion.
My bias remains bullish, but unless the markets can stabilize tomorrow, there is more selling to come.