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I took further profits in ACGL today, covering another 25% of my original short, only 25% remaining.

Portfolio is now 90% cash, 8.25% short, 1.75% long. Looking for new shorts on a bounce.

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So glad I sold my puts before this presser. lol Its a whole lot of bullshit but for some reason people are eating it up and the SPY is up $9..
Literally no good news just a lot of sucking dick and lying.
 

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I took further profits in ACGL today, covering another 25% of my original short, only 25% remaining.

Portfolio is now 90% cash, 8.25% short, 1.75% long. Looking for new shorts on a bounce.

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Let me know what short targets you are thinking about.
Looking like a bounce tomorrow and then we just have to wait for the stimulus bill passing and there will be a lot of overbought stocks..
 

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Let me know what short targets you are thinking about.
Looking like a bounce tomorrow and then we just have to wait for the stimulus bill passing and there will be a lot of overbought stocks..
Not targeting anything specific, looking for setups. I look for pullbacks, so on the short side I'd want something to first show a sizeable move higher, and then stall. Then I'd target an entry if it turns lower again.

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Well, I jumped back in SQQQ this morning at $25. This is closer to Tri's methods of entry than my own but just think this exuberance will fade quickly.

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Took some FNGD also.

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Hit my limits on half of my Delta and all of my HD and Disney. Don't want to be long right now with the volatility, better chance to make more now swing trading. I'm only playing with small potato money compared to what I have seen mentioned here though. Still fun though taking short term gains since there is no sports betting to get excited about haha.
 

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I bought more SPY puts and bought some SQQQ shares. Up almost 6% on no news seems questionable especially after Thursday coming out with initial jobless claims which should be worse than most are expecting.

I am kind of concerned that the Fed's "unlimited QE" though.

Listening to the senate it doesn't sound like anything will ever get decided on the stimulus bill lol.
 

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I think the bounce is based on Trump saying the social distancing is causing more harm than good (he's focusing on economic crisis, not public health crisis). He said some general things about getting back out there....

The case rate is accelerating and we're just starting to climb the curve. This is going to get a lot more worse before better. All UK McDonald's just shut down, we're not going to "get back out there".

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Took some FNGD also.

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As was thinking the same thing and was about to post that as well.

I'm waiting to see if the stimulus package passes. I think it will drop more as well after that and then buy and wait for the next spike after bad news and sell.
 

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I think the bounce is based on Trump saying the social distancing is causing more harm than good (he's focusing on economic crisis, not public health crisis). He said some general things about getting back out there....

The case rate is accelerating and we're just starting to climb the curve. This is going to get a lot more worse before better. All UK McDonald's just shut down, we're not going to "get back out there".

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Yeah He was saying last night that after his "15 day" plan (which we are apparently already on day 9 of) we will start opening back up...im all for getting back up and running but that is ridiculously too soon.
That is just asking to accelerate cases even faster.
 

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My thought was 18k would be the bottom for the Dow. It sniffed it and rebounded strongly based on nothing, lets see if that becomes the resistance level or if it comes crashing through that. Italy is starting to show signs of life and getting better but the US is weeks behind them. This is all my Holiday Inn express thoughts and hunches. I'd love to be in all cash by close today, fingers crossed! I'm up 8% over the last 2 weeks just playing around with my bonus money so I am happy with that!

Edit: Woohoo, made it to all cash today as the rest of my Delta hit my limit and sold putting me at 9% gain over the last 2 weeks of turmoil. Stocks I hit were Amazon, Roku, NEE, Delta, Home Depot and Disney. I don't play the short side of it, I just buy on feeling and sell when I make the gain I want. Got trapped in Delta for much longer than I wanted with my "day trading" monies haha.
 

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I'm holding my SQQQ and FNGD overnight.

Today held surprisingly strong, the Qs are forming an hourly bowtie, which is a good sign if it can hold. I'm still short, but today was the best looking day in a while. Can it get two in a row? I'm hoping, but betting against it.

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I'm holding my SQQQ and FNGD overnight.

Today held surprisingly strong, the Qs are forming an hourly bowtie, which is a good sign if it can hold. I'm still short, but today was the best looking day in a while. Can it get two in a row? I'm hoping, but betting against it.

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Yeah I bought more SPY puts on the way up to lower my cost basis...lets see what happens tonight and tomorrow.

We haven't had 2 green days in a row since this all started.

Bear markets do tend to have bigly green days mixed in but this whole 9% bounce seems to be from Trump promising to have everything back open by Easter (unlikely and probably unwise) and pricing in passing this stim bill.

What I don't quite understand is how they can say "everything is fine, economy is bouncing back immediately" but in the same breath begging saying "we NEEEEEED $2T immediately or we are DOOOOMED!"

Those things seem mutually exclusive.
 

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You guys have me wanting to buy some SQQQ at the bell. I think tomorrow will be a blood bath again.
Yeah listening to CSPAN on and off today and Trump's town hall on Fox, there seems to be a small chance this bill gets approved...
Im betting on a big red day tomorrow...but who the hell knows these days.

UNLIMITED QUANTATIVE EASING. Money printer goes BRRRRRR
 

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The market is at an inflection point right now. Some stops are getting hit on my shorts so I'm going to just follow the plan.

Portfolio update:
My AMD stopped out. Shorted at $45, plan was $8 swing. Covered half at $37, kept half for long term trade. At that point my stop should have been my $45, but I gave it some room yesterday. Covered this morning at $47. Net $6/share, 0.75% increase to account.

Stopped out of BLDR this morning. Shorted at $23.40, plan was $3.60 swing. Covered half at target $19.80, kept half for longer term trade. At $12.65 I went ahead and took profits on half of the remaining, kept other quarter position longer term. Closed out entirely this morning at $13.95. Net 3.83% increase to account.

As I mentioned yesterday, took positions in SQQQ and FNGD outside my methodology, and regretting that entry. No real plan going in and now winging it. I hate when I do this. Starting to form a plan in retrospect - easy to do when profitable, but currently in the hole. Unfortunately, I tend to let those holes get deeper and deeper. I don't think this one will, but, that's what I always say. I need to be more strict with myself on new positions, and I have been, but still let the emotions make decisions from time to time.

Good fortunes everyone.

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The market is at an inflection point right now. Some stops are getting hit on my shorts so I'm going to just follow the plan.

Portfolio update:
My AMD stopped out. Shorted at $45, plan was $8 swing. Covered half at $37, kept half for long term trade. At that point my stop should have been my $45, but I gave it some room yesterday. Covered this morning at $47. Net $6/share, 0.75% increase to account.

Stopped out of BLDR this morning. Shorted at $23.40, plan was $3.60 swing. Covered half at target $19.80, kept half for longer term trade. At $12.65 I went ahead and took profits on half of the remaining, kept other quarter position longer term. Closed out entirely this morning at $13.95. Net 3.83% increase to account.

As I mentioned yesterday, took positions in SQQQ and FNGD outside my methodology, and regretting that entry. No real plan going in and now winging it. I hate when I do this. Starting to form a plan in retrospect - easy to do when profitable, but currently in the hole. Unfortunately, I tend to let those holes get deeper and deeper. I don't think this one will, but, that's what I always say. I need to be more strict with myself on new positions, and I have been, but still let the emotions make decisions from time to time.

Good fortunes everyone.

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Yeah I am regretting my buys yesterday but I am making the most of it.

Flipping some more OTM SPY puts on the swings has been reducing my loss a little. Still holding my larger positions for better or worse lol.

I still stick by my thesis that we haven't seen the bottom and I have until 4/17 to find out...
 

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Hopped back in SQQQ at $21.55, predicting a sell off near the bell. Worst thing that happens is I lose some of my morning gains but I won't be holding overnight whether I make $40 or lose $100 of my $400 gain earlier haha.
 
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