Monday Trades

Mon (11/15)
IEF (OUT 1/2) – Took profits on short, moved capital to VIX.
SDS (OUT 1/2) – Took profits on market weakness.
SU (OUT) – Took profits on short, moved capital to OI.
OI (IN) – New long. TA: Falling wedge, pulled back stochastics (pbs), consolidation at upper trend line (TL).
MELI (IN) – New long. TA: Falling wedge, pbs, LT TL support pattern.
VIX (IN) – New long. Anticipate overall market volatility – timing uncertain.
Downtrending market so hold shorts longer while longs get cheaper. Have patience and make trades based on a predetermined plan.  Today the market showed strength in the morning with a big selloff into the close.
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