Some time later, I opened a long QLD, which I held through the afternoon pullback as I did not want to make twice the same mistake. Trading after a trading error is always more difficult, because errors have the bad habit to compound themselves because of the new trading decision can be tainted by the previous poor decision.
The RL long position is doing fine for now.
The Portfolio is now 40% long, but hardly making any progress.
The trade ideas for today are below. I do not dismiss the possibility that early strength will be sold, which has been a common pattern lately. My plan is to see the QLD position if I see some weakness.
I am not sure that the energy related bounce will be sufficient to pull the whole market higher.