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Rockin!
We opened a couple of put trades today and scored HUGE on them! We opened up early and posted this:
We added spy and dia puts, waited patiently and then pulled the trigger on the sale for a couple of NICE winners! You can see when we entered and exited...PERFECT TIMING, right before the rally started.
It was a rollercoaster session, but it is March Madness, right? Certainly some volatility is expected but with a VIX near 40, we still had a 400 pt swing in both directions. Breadth was strong and volume perked up as well. While this bear market rally marches on, we have to remember the context of such an experience. There are potholes out there, so it pays to be cautious. End of the month and quarter are upon us, while the government continues to feed 'good feelings' to the public, while the bond market took a hit from reality...a poorly received auction. Perhaps the positiveness continues a bit longer, but an overbought market is not one we want to venture into just yet.
Hit 'em straight!
Bagger