Aug. 23 at 4:55 AM
Thank you! More so broader market resistance - I put together this
$SPY chart months ago and have been using it to gauge sentiment. We are now right underneath a key long-term level (
$649) which prompted me to liquidate all but one of my trading positions (
$LPG). I cut
$LYFT,
$MSTR and
$STEM today.
Just seemed like a reasonable time to go liquid.
$STEM still has some room to advance which I'll probably continue to scalp. But again the risks are now greater than the reward. I'm thinking 45% upside in absolute best case (to
$24-25), and around 30% downside in the more realistic worst case (to
$11.89).
