As you know, we love a good sell-off because we're very well-hedged but now we seem to be breaking even lower and we'll have to look at improving our hedges – just in case. We are significantly lower than 10/9's Tumblin' Tuesday and 10/2 was "Tuesday – Trouble at 1,700 for the Russell" and we're miles from that now as we are almost down to 1,500 and Sept 25th our Morning Report was: "Toppy Tuesday – Markets Bounce Back Ahead of the Fed" after 9/18's "Tariffic Tuesday – Markets Ignore Another $200Bn Drag on Global Trade". Oh, and last Tuesday was: "Tempting Tuesday – Nothing has Changed but Markets Move Higher."
I don't do these reviews to say "I told you so" – it's my job to tell you so! Reviews are important because next time we're in a similar situation, you may recognize that that's what happened last time and that will help you make better trading decisions. That's why I started keeping a blog in the first place – to review my own thought process as I traded! Like last week, when I warned about chasing weak bounces, which we were clearly having that day. On that Monday (15th) we had posted the bounce lines for the indexes, according to our Fabulous 5% Rule: