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Another Support Line

Published 01/06/2022, 01:35 PM
Updated 07/09/2023, 06:31 AM

After yesterday’s terrific plunge, I dialled up my cash levels from 5% to 35%. I remain in 18 bearish positions now, expiring anywhere from 71 to 162 days from now, so I’ve got all the time in the world. I think I’ll hold back before piling into more positions. I took profits, for example, in Autodesk Inc (NASDAQ:ADSK), Charter Communications (NASDAQ:CHTR), Carvana (NYSE:CVNA) and Upwork (NASDAQ:UPWK). Time to watch from a distance, I think, and at least see what tomorrow’s jobs report does to prices.

SPDR® S&P 500 (NYSE:SPY):

 

SPY Chart.

Latest comments

Tim, such insight can only be found here ->
I made a return last year that I was happy with, 18%, and moved into cash before the Xmas non-rally. Preservation of capital has its advantages. Sometimes it is easier to spend less than earn more. Greed cuts quick and deep.
LoL Ok
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