anybody else taking some longs off here?

M

milktruck

I just bought a leap put spread and reduced my long equity position by 10%

I may have jumped early here, this is a pretty crazy rally tho short interest is jumping.

anybody here want to validate me haha?

I had some solid buys at the lows and feel like I may be "cutting winners short." I'm hoping I'm just early...
 
I'm with you bro. I sold 1/3rd of my length the other day when we had our +500 day. I plan on taking profit on the other 2/3rds today. I don't care if I miss some upside here, I bought almost at the lows and see some strong resistance at the 850 level ES. I feel risk/reward being long here has reversed, but I am not going short, just wait to cycle back down to scale in again.
 
I have stuff I want to own I am averaging into in my long term account, but I sold out of some low yeilders since I'm not holding for earnings just yet lol.

I'd love to buy back the short end of my spread real cheap and either let it run on the downside or job it and put it back on later. when does that ever work out tho haha...
 
I gave my longs a 30% haircut today and I'm happy. Had the whole farm on limit sells today and came real close this afternoon with all of them. I'm still confident, (3 more trading days before most of the quarterly losses start reporting) hopefully our Govt. buddies won't come up with a new Crisis D' Jour tomorrow.
I'm looking for an early morn, rally (@ which point I'll bail) followed by a lot selling (like me). I have a cash account and look forward to regrouping and starting next week with cash in hand. Thinking in short terms from there (current thoughts anyway), We'll see & Good Luck!
 
We are still technically in an uptrend. Can change any day now, but i prefer to wait for signal. When we were down and had the big day, I thought we would move into the 800-840 band and just chill there for a while, so far that looks like a good possibility.
 
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