Mark, Not day trading at all. I am massively long the Miners here (like you) but do have some July PUTs on SPY, AAPL, and IBB along with some calls on UVXY all from this week (also a small position in SPXU). PUTs limit my downside loss but have a high reward if we get another waterfall decline into late June similar to Aug 2015 and Jan 2016. The Waterfall declines appear to be on a 5 month Intermediate Cycle basis.
In Cycle’s if you get the long term cycle correct they dominates the shorter ones and determine their outcome. I see this downturn very similar to the 2000-02 Bear where many indicies broke 1 year plus down trend lines only to roll over to much lower lows. 2008-09 was a crash but 2000-02 was a slow grind that took 34-35 months to find a bottom.
I gotta say Surf, I don’t understand why you are shorting this market unless you’re daytrading….are you daytrading?
Mark, Not day trading at all. I am massively long the Miners here (like you) but do have some July PUTs on SPY, AAPL, and IBB along with some calls on UVXY all from this week (also a small position in SPXU). PUTs limit my downside loss but have a high reward if we get another waterfall decline into late June similar to Aug 2015 and Jan 2016. The Waterfall declines appear to be on a 5 month Intermediate Cycle basis.
In Cycle’s if you get the long term cycle correct they dominates the shorter ones and determine their outcome. I see this downturn very similar to the 2000-02 Bear where many indicies broke 1 year plus down trend lines only to roll over to much lower lows. 2008-09 was a crash but 2000-02 was a slow grind that took 34-35 months to find a bottom.