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Nearly 2 month ago, when SPY was 720, an ID called the bottom was far away. I said he was total BS. The same guy called to long commodities after last Oct. crash. He did not get inflation or deflation right. Back to March, from 720 to 670, I added long every 10 points. All those longs were sold around SPY 850. Now, I think SPY does have a chance to touch 940. Since I am not good at catch exact bottom or top (bad trading skills?), I will do the same, the higher the market go, the more shorts I will add. But I don't touch those 2X, 3X stuff.
Is this the start of another bull market? Maybe, if SPY can stay above 900 for 6 month, then I am wrong, gladly. I will take loss for my shorts then. If not, my FA may still worth a few bucks. |
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