Frustrating trading yesterday: I closed the XLE long position at a small loss when I noticed that oil was heading lower, but at 10:00, the general market ramp started, pulling XLE up with it.
I knew that I had to reenter a long position there, but did not mainly out of frustration. Difficult to manage feelings in real-time!
I also covered the XME short position.
At the end of the day, I opened a 1/2 short UWM (double long IWM,) as the bounce did not attract much money. However, the 1/2 position tells you that I am not convinced to be right.
The trade ideas for the day are below. Nothing of much interest I believe, until the market shows its hands: new high or breakdown.