i Spy a logical buy point and took a new and fairly sizeable (proportionally) position in SPY this morning. Also, both shorts are now covered; NFLX and SMH.
SPY is hammering above the SMA 200, which of course everyone sees. In fact, the Men Who Stare At Charts are advising their herds of it at this very moment. So it can grind around the SMA 200 and I will plan to have a clear exit plan (per parameters we discussed in an NFTRH update this morning) if this proves an ill-fated position.
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