Update to Yesterday’s Comments
Yesterday we outlined some trading ranges for the S&P.
Today we are getting somewhat short again.
2429 was listed as the dividing line between undervalue and overvalue and 2722 was listed as the top of the current trading range.
This makes 2576 the top of the midrange for the overvalue area.
We are using this indication to put half of our previous SPXS position back on with buys at 17.10.
On the recent way down the SPXS position had been liquidated at 22.60.
So we are getting short again at around a 25 % better price.