In response to all the readers who asked:
I’m still waiting for the Nasdaq 1975 or so I mentioned last week prior to getting very aggressive. The Dow and SPX hit my targets, and in my mind that is suggesting we are getting much closer.
I made the first of my selective buys today (previously mentioned), and will continue to scale in as we slide further. Note that this is a very different style then playing a trend or a breakout.
If the SPX makes a newer low and then reverses back over 1975, I would take that as a very Bullish sign.
To reiterate what I told several emailers, scaling in is very different than ‘doubling down.’ Please make sure you understand the difference!