What a day. The market got crushed and I had to cut losses on a long position. And yet, I am happy to see the market moving. The recent chop has been frustrating and no fun at all. Of course, being mostly in cash today helped. I am very glad I wasn’t aggressively trading these last couple of weeks. I only had to take a loss in MNTA today.

I have been posting charts of the NASDAQ recently. It showed an obvious bear flag last night. So obvious, I should have been playing it.  I picked up some QID today to play this. This looks like it’s going much lower from here.

I added PCYC to my watch list last night. The chart looked very good, and it actually broke out today to close higher. I didn’t play it though due to market action.

GLD broke down from a descending triangle.  It may have found some temporary support, but it could go lower in time.

My plan now is to buy the inverse ETF’s as they pull back.  Some charts I will be watching include:


And one stock I will likely short is V. Just look at what MA did today.

At least we’re moving. Good luck and good trading!