SC, Looks like the market is bouncing back for now, so wouldn't be surprised to see HDGE come back down to its 50 MA (8.86). But there are fewer reasons to be long now considering that Trump's tax cut and infrastructure plans are probably out of the picture.
In that case the only reason to stay bullish is that the Fed/PPT could keep juicing. But this Trump-gate mess won't go away and will go on and on, a constant nagging disease-like phenomenon. It would be different if it was just the Dems and media after Trump, or if the Deep State was merely trying to force Trump to stay in line, but looks like the Deep State is out for blood.
Anyway, that's my take on it. I'd probably just watch the price action for now, but the argument against shorting has gotten a lot weaker imo.
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