I have decided that it is time for me to put on some shorts. I have taken down risk in $CHWY (still own some long run), $NIO, (still own some long run), $SPCE (still own some long run). I have added to $SQQQ which is a highly speculative short term trading move for the $QQQ to go down. I have also added to my $SH hedge that I have had for a bit for a move down in the $SPY. Could I be wrong about this?
Definitely. However after getting my ass handed to me in May and June and then jumping on the momentum band wagon of the innovative and technology companies I have positioned myself for a pull back here. My plan for this is to look for a buyable position into the election in November if we can get a decent percent pullback and will assess a spot to rebuy around the SPX 3000-3100 area. If we go back through today's highs and go through 3300 I will reassess this decision because above 3300 I do not think I can be short this market.