Leading up to April 9th I went heavy short. With news of explosions of Iran combined with 5 days of market weakness, a flash crash maybe on the table.
If we get an extreme market down, I expect SPY 4900-4800 range to hold. If correct, the counter rally will be very painful if short.
Its very hard to cover shorts when your finally in the green. Lessons from the past, nothing goes in a straight line. I may go long or simply wait to get reshort.
If we break on a closing basis SPY of 4800 its going to get very interesting, and being short would be huge. But I cant take that chance with such a sudden drop.
Good luck
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