The last two days were demoralizing....As we hit S&P 840, I purchased LARGE amounts of PUTS today in IYR, COH, QQQQ and SPY. However, this thesis of mine that we are going to revisit the bottom of a few weeks ago has torn my put values to shreds. I am hanging on tight here and hope to whether this BULL storm.
After a day like today, I am reaching for positives....One positive is that the SPY 82 Puts I purchased this afternoon are currently up 10% in a just a few hours. The problem is is that I have been in this situation for the past couple weeks, and the BULLS continue to turn my 1 and 2 day profits into losses.
As I am writing, the market continues to sell off.....Also, the VIX has risen all day long and is now above 42. I don't think the bears are done just yet! I'm ready for tomorrow and the rest of April.
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