What a wild ride yesterday was!

As we predicted, we opened down half a point and then raced all the way up to our strong bounce lines before tumbling back to give up all of those gains and more – a major technical failure for the markets but a huge profit for anyone who followed our trade ideas in the morning post.  

Using the bounce lines we published early in the morning for the Futures trades gave the following outcomes on that morning spike:

I called the top in our Live Member Chat Room at 11:42 and, since we had made a public pick in the morning, I also tweeted out the note to take profits for our followers (and on our facebook page, of course).  That's how we pick up a little spare change in the Futures while we wait for our bigger positions to play out.  

In fact, we also cashed in a couple of our bearish positions on DXD and SQQQ that were up significantly on yesterday's drop, leaving us a little bit less bearish ahead of the Fed – just in case they actually do something today that boosts the markets.  We don't really expect it, but not taking 100% gains off the table is just foolish – we can always find new hedges to cover our longs with.

As you can see, our Short-Term Portfolio finished the day up 96.5%, a gain of $22,310 from Monday's close so of course we wanted to take some off the table.  Our cash position has increased by $46,500, which was one of our primary goals (getting to mainly cash) into the holidays, which are just 7 days away now.  All in all – perfectly timed this year!  

We're still bearish but it's more of a long-term bearish with some April TZA calls and a June SQQQ bull call spread that can pay us up to $90,000 in a significant downturn.  Not that we hope that will happen, the spread only cost us net $3,800 because we timed our entry perfectly and now we have covered our bullish plays into the second quarter of next year.