Just in the few minutes since my last post, the market has fallen further with explosive velocity. My perspective is that this is probably a game changer and the trend will continue down (maybe significantly from here, or as a secondary possibility this could be a mini capitulation before a move to new highs.
In the first case I wouldn't expect the stop to be hit, so there's no reason not to put it in. In the second, I would expect it to get hit and have to re-evaluate if there is a good reason to re-enter soon after.
If your entry was 41.00 or less on the current SPXU trade, then modify your GTC sell stop to breakeven.
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As a heads up I may post a new trade on EUO today as the UUP ETF and dollar index are close to breaking out of a falling wedge just above major support.
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