If you have been following my moves and call you know that I said Last Week was not the bottom. I also said that yesterday was not the bottom on a longer term timeframe we are talking here.

I was 75% cash and in all honesty if I didn't mess up an order a few days ago I would have been completely out on that one day bounce last week. ( I was out from way above, been treading water with EEM all year and I was up 6% with the major indices $SPY and $IWM negative on the year a few days ago so I have some leeway).

Well I got some news, I allocated back 80% LONG IWM at the close. I beleive we have a short term bottom and possibly an intermediate term bottom for a bounce back into 160. What happens there is too early to tell but I believe with FB now going green after hours, this may just work. The first turnaround Tuesday was a big trap, this one I believe is the real deal...

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by heyimsnuffles

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