The 21dma held today.
I wrote yesterday, that a drop on thursday (not expecting THAT kind of drop, but have said often the over enthusiasm set up a drmatic fall possiblity) and then a rally into next week would set up the real sell signal.
I think the above is possible, and am planning on shorting heavily if that setup works.
For now, holding a 50% short in spy, 50% long in tech stocks I want to own the next couple years. If we drop to 3400 tomorrow morning, I cover the rest of my spy, and maybe add a little more stocks (want to buy SLV under 24.5)
If we rally into next week, I short a lot more spy, and maybe sell covered calls on the stocks, or even sell them outright if the sell is strong enough.
