Day 8 close – Drop the Hammer | Wallstreetstockslutions.com

The S&P just hammered on the 200. With my married put in place for insurance on the portfolio, I am protected but timed it poorly. I should have noticed the technicals today but I am trying a new approach, a more old schooled approach with a buy and hold strategy instead of trading charts. However, in today’s day, it is all too obvious that we trade-off of these technicals. Will not be rattled by this intraday bounce. I am stuck with it now; could try some highly convoluted strategies here, but I just risk burning commissions and being wrong possibly. I mean, a strangle to the downside makes sense to me on the 200 right here, but it is just a headache for me, maybe not for you. Here’s the plan: Hold tight, be opportunistic and buy on wider increments. We will say, buy UPRO at 65 and 60, TEX at 15 and 12, FWLT at 16 (I feel I got stopped out right at the bottom), and WLL at 30 – that one hurts.