Subject: Re: A change in market direction
As far as the Doug Albo behind paywall I mentioned, this is what he came out with this morning (8/5/24) pre-market:

if you don't sell your hedges on days like today, then when do you? As a result, I'm selling the last of my ProShares UltraShort -2X S&P 500 (SDS) and turning around and buying the ProShares Ultra +2X S&P 500 (SSO).

SSO is an aggressive, bullish idea but I'm going to give myself room to add just in case this gets even worse. The problem is that you don't know how low this forced selling will take things down during an unwind.

Those 2X leveraged ETFs on the S&P 500 have nothing to do with "CEFs: Income". But I guess they do fit in the "CEFs: + Opportunity" category. Weird dichotomy.

Hah! Just now at the open, finance{dot}yahoo is down, DOW is down -1200, S&P is down -4%.

Washout day? Black Monday wannabe?