Making Up Some Ground

A 4% drop for the Nasdaq gave the last CMI trade a 3% gain at today's close. Another market drubbing would be necessary to keep this trade going. If this does not happen, the CMI would sell out at the Thursday morning open. I would most likely put a close stop in and let it trigger. We will see how this plays out. Best case would be for the markets to reach for the November lows over the next two days but no sense in getting greedy. Keeping close to the CMI, and following the signals, will be the biggest challenge. Remember that I lost 2% at the start of this last trade in anticipation of the buy signal. There is always another trade and getting out of this volatile market unscathed is a testament to the defensive nature of the CMI.