Yup, I hear ya Trades, I wouldn't want to contemplate initiating new positions into this market, long or short, at this point in time...that would take some BIG kahunas, lol.
But, since I'm already massively short, I'll just stick to the old adage of "Let your profits run" for a wee bit longer.
The new margin requirements are likely to bring more pressure on the underwater longs well into tomorrow and could continue grinding them down until a much more extreme low/oversold condition is reached...that $26ish target certainly looks very achievable to me for this week. But I will also be wary of any strong bounce appearing late Monday/early Tuesday as well...willing to give it a little rope, but not TOO much, lol.
What about you...see any potentially appetizing set-ups in the markets early this week, long or short?
