I did two things this morning,
I first sold all my positions, I went all cash.
I am able to do this because I do not do long term investing for the most part. And I am thinking there will be a correction that will last a few days up until a few weeks.
We are about 2-5% corrected. With analysts expecting as much as 20% correction which is quiet significant.
Coming down to all cash, I opened two positions. This and the other one, the Gold idea I posted as well....
The stop loss is at 7.00 which gives me room. I am also not planning to exit this position unless I get a profit or at the stop market of 7.00.
I purchased $750 worth and my max loss is less than 200.
I have no profit taker, but I am looking to flip this and hopefully time it to sell before the market begins to turn back around, however long that takes.
If you are not short the market, or are no expecting a correction, you would not take this trade.
The SQQQ is an inverse ETF. The value goes up as the market comes down. This is a safer way to play the short side of the market. I personally never short stocks.
I should add. I dont personally use this strategy, but some others, always hold these inverse etf positions and increase them as an insurance policy. Where the market crashed, they get profits from these positions.
I first sold all my positions, I went all cash.
I am able to do this because I do not do long term investing for the most part. And I am thinking there will be a correction that will last a few days up until a few weeks.
We are about 2-5% corrected. With analysts expecting as much as 20% correction which is quiet significant.
Coming down to all cash, I opened two positions. This and the other one, the Gold idea I posted as well....
The stop loss is at 7.00 which gives me room. I am also not planning to exit this position unless I get a profit or at the stop market of 7.00.
I purchased $750 worth and my max loss is less than 200.
I have no profit taker, but I am looking to flip this and hopefully time it to sell before the market begins to turn back around, however long that takes.
If you are not short the market, or are no expecting a correction, you would not take this trade.
The SQQQ is an inverse ETF. The value goes up as the market comes down. This is a safer way to play the short side of the market. I personally never short stocks.
I should add. I dont personally use this strategy, but some others, always hold these inverse etf positions and increase them as an insurance policy. Where the market crashed, they get profits from these positions.