09Feb3:36 pmEST
Adding and Initiating; Chess Moves
Into the bell, I added to my open BIS (ultra-short biotech ETF) long, at $42.26 from my $41.79 entry last Friday. My stop-loss is still below $40. The position is now roughly 6% of my capital.
I also took another stab at natural gas, by going long UGAZ at $2.51 with a protective stop-loss below $2.40. Natty is acting well today, and I still think a snapback rally is likely. Of course, this is a hot tamale of a (triple) levered ETF, so honoring stop-losses is key.
See you after the bell for my video market recap.