Today’s bounce may present a good short entry. I just went short VMW (89.10) as it nears resistance (former support), TOL (21.46), and took small positions in ultrashorts QID (40.85) and SDS (55.56).
On the long side, oil stocks are extremely oversold. I took small long positions in NOV (63.74) and OII (62.50).
Note that all of my plays are with small positions sizes. I will not allow for big losses in this environment.
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