Today's downside momentum has generated reversal Sell Signals across the board in our basket of stocks. It's easier to just list the exceptions: TLT, NFLX and NVDA. That is in part why we went with the simple to manage DIA put position this morning. The portfolio is already Long VXX from Tuesday so it is positioned for a steep decline. Icing on that cake are three June put positions that, if not already stopped, all suddenly have new life: FXI, ROKU, LVS. The patterns on all three remain negative so put re-entry is acceptable: July just out-of-the-monies. As for the rest of today if the market starts to collapse further toward the close there may be some fresh trades here in the PRO Service, or in the Premium Service. If not, the simple strategy of index puts and VXX will serve us well. As for TSLA, it's down about 3% and whether or not to take some of the generous profits of the past week is up to you. If nothing else TSLA shares, or longer-term calls, do make sense as bullish hedge against a portfolio of mostly puts. Look for a Premium Service update toward or after the close.
