The Last Defence III, 28th Sep 2022
🖼 Daily Technical Picture 📈
➤ No prize for those of you who guessed the title of today's update. It's growing a bit tiresome. As in previous days, prices opened higher and ended lower. As suspected, with VIX moving higher, S&P500 set a new yearly low in the process but was able to close above the support level.
➤ This tiresome behaviour may bring about some Bullish respite. As prices have continually tried to break the support without any convincing level of success.
➤ Further clues for a bullish bounce comes from my long/short equity trading. I trade the components of the Dow30 (DJIA). Some of these stocks are intensely oversold and I entered a long position in one stock.
➤ I also entered small long positions in DAX and EUSTX50. My exposure is +40%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I have dipped my toes in to test the waters. May Last Defence III reign long.
➤ No prize for those of you who guessed the title of today's update. It's growing a bit tiresome. As in previous days, prices opened higher and ended lower. As suspected, with VIX moving higher, S&P500 set a new yearly low in the process but was able to close above the support level.
➤ This tiresome behaviour may bring about some Bullish respite. As prices have continually tried to break the support without any convincing level of success.
➤ Further clues for a bullish bounce comes from my long/short equity trading. I trade the components of the Dow30 (DJIA). Some of these stocks are intensely oversold and I entered a long position in one stock.
➤ I also entered small long positions in DAX and EUSTX50. My exposure is +40%. The maximum portfolio exposure is +/- 200% on capital, the level of highest conviction.
➤ Conclusion: I have dipped my toes in to test the waters. May Last Defence III reign long.
🏆 eToro Popular Investor 💰
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
✅ Copy My Trades @ eToro, etoro.com/people/mrstocky
✅ Verified Track Record 📈
Not Investment Advice
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