$SPY Below 1600- Nikkei Crashes 6%
Great way to start off the morning. Most of my longs are long gone. I still have 2 positions with the stops moved up and tightened. What is the interesting trend is the Nikkei is crashing and the Yen is taking off. For weeks on end this has been the opposite case. Everyone wanted to be short the Yen. Now those people are getting CRUSHED! That is why traders need a plan. If you do not have a complete trading plan you are bound to lose money.
As far as the SP500 $SPY my risk management stop is almost kicking in. I exit all long positions when the 10 exponential moving average crosses the 30 exponential moving average. However you need to take this day by day and “Anything can Happen”. We might have a huge rally. Do not have an opinion on the market. Let the market tell you. Follow your plan.
Past Performance is not Indicative of Future Performance