What a day.
Today's stock market action (with respect to the tech sector) was certainly not how I expected the day to progress.
At the market open it seemed that cash was making its way, at least just a little bit, back in to the tech sector however as the day progressed a strong reversal took place. (This goes back to my premise of why it is so important to watch your trades closely, be ready/have them hedged, and think about closing them if they go against you).
For now I am still holding calls on Facebook, and Apple as posted on my website TradersChoice.net click here: https://www.traderschoice.net/money-page--stock-picks.html however, I did open hedges on these positions. I outline how to hedge your positions in this brief, click here: http://www.lulu.com/shop/gregory-mannarino/options-trading-a-simple-effective-way-to-hedge-your-trades-includes-a-new-technical-trading-system/ebook/product-23108108.html
Personally I am going to be watching my current trades and the tech sector very closely, as I did not like the intraday reversal in tech.
It is certainly possible that I dead wrong about a rotation back into tech in the short run however, I will continue to watch for a reversal.
Gregory Mannarino
