As the "Fly" says, "If this market is in classic melt up mode, it will trick the shorts into believing we are heading lower. They’ll get back in, then BAM, the guillotine of certain death will reign down on them, towards the end of the trading session." What I've noticed is that there is a lot of supply at these levels waiting to get out even. My thesis is that it will take some time to work through that supply, but only a day or a half-day. I would be very surprised if we roll over after the record run yesterday. But backing and filling is to be expected.
Let's hope that is the case. Patience is a virtue. You don't have to get it all at once. Wait for price action to dictate entry points.
Longs:
Drys
QQQQ
RIG
SPY
XLF
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