SPYWent into today with a short position and ended up holding onto it! Find and place good entry points and give yourself plenty of time in case price decides to turn against you; this helps to really mitigate taking large losses! ... that and little hedging!
Intraday demand formed around 282 which gave end of day bounce up to stretch for a higher high. As of now, this area we are in is anyone’s game which I stay out of. Could go to 285; 288; or even 292... who knows for sure which is why I wait for price to get to a level where I believe is a good entry point.
Kept my short going into today and added a small bit more to it. Again, giving myself time in case price decides to keep pushing higher. Think we are at a pivotal point here.
