Same story today. Pennystocks performed exactly as S&P. We had a nice winner, MBRX. 67% profit since last week we initiated position in this stock. Sold 1/2 MBRX position today for $0.76 Everything else was slow and boring.
As I mentioned before, I am out next week. Barely have access to trading, so I didn't buy any new symbols last 3 or 4 days. Second reason, market is due for some pullback down to 1040 - 1020 S&P zone and we would rather grab new plays at those levels and at the same time reduce SDS. If pullback doesn't happen in the near future and instead of it we see a breakout above 1080, we will reduce SDS anyway and realize some losses from hedging. If it really happens next week and you are still cautious of todays' market bullishness, instead of SDS, open a small position in SPY puts or sell little SPY calls. Options are not covered in our strategy, so in our covestor account you will just see SDS sell trade entry.
Basically, we are reducing SDS anyway, whether market goes up or down.
I hope to start increasing our long positions a week from now, after options expiration and some Q3 results news. Nice weekend to all!
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