As I emailed during the day, I switched from a long UWM to a long QID and later on a long TWM position.
The positions are now positive, which makes my life easier for today, even if we have a general market bounce. On the other hand, if the market falls again, I will be free from any urges to chase it down. These are the two main reasons why I prefer to act fast than wait for a confirmation.
You can see below that on the basis of these ETFs' past volatility, the current stop levels have a very low probability of being reached in the next few days and even if they are reached, the portfolio draw-down will be very limited.
Below is the list of possible trades for today. I will look at both sides of the market, but will avoid tech stocks on the long side for now, except maybe Biotech stocks. PCYC for example was slightly outperforming yesterday, after its epic fail and equally epic reversal.
On the short side, BX looks interesting, but so do most of the investment brokers.