I believe we have a very high chance to see higher prices into OPEX here but due to work I rather lock in profits now. Had a great run off the lows at 101X with a nice sized position. At this point going to sit tight until we see a retracement (which may never come and the market may just run on to make a new high). The past few weeks have shown us surprises on both sides so I am not counting out a bearish scenario here but am looking to get positioned on the long side.
You may ask why am I taking full profits now instead of a hedge or more partials? Well to be quite honest I am not trusting this upmove from last week - it came too fast and looks more like a big short covering bear raid - could be wrong but there will be other chances for us to get positioned.
Will probably not post an update until mid week with more charts.
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