A diary of the thought process behind my investment decisions
I believe the market has gone too far, too fast as the S&P 500 has climbed nearly 100 points from its lows two short weeks back. Some stocks that I wrote covered calls on have surpassed or are approaching their strikes. This automatically reduces my net long exposure. If this were not the case I would be reducing my net long exposure. I expect sideways movement for the rest of the week at best. I would not be surprised to see us go down a couple of percent. Have a good night.