I've been away from the office for much of the day and after some early strength there's been a solid downturn so that approaching 4pm we're down close to 1%. I sold the last 5000 Aoe at 456 fairly early to make 750 on that portion and 1290 less 30 costs, overall. As the Xjo started to look pretty ominous, I decided to tip out the last 9000 Sgp at 391 (v 409) for a loss of 1620 on those shares, offset by a 30 dollar gain earlier less 32 in costs.
Here's the Xjo chart. It looks like a standard set up for another leg down.
Having been away, I haven't really had the opportunty to get any short positions on board. Mostly, I don't expect a very steep fall but there are a few stocks that are tradeable on the downside. I'm hoping for some early strength tomorrow which might give me a chance to do something.
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