Do not get caught up
The market is acting nice, and I hope it continues. But many of the stocks I follow are hitting their ’sell’ levels. For them to have started to reach their levels so quickly is not too reassuring.
The market is still oversold, but it is oversold and still weak (despite today). I started taking out Jan puts, for any weakness we might see (only protective position).
I will post detailed charts of the S&P 500 to indicate where resistance will most likely be seen, and where stage put entries can be made.
FYI: I unloaded my short-term option trades today as they have seen my price target, but not my long-term holds… yet. So I am still very exposed to the upside, w/protection.
