Taking on new long setups today is a torturous prospect that should be avoided. 

Despite this being a post about so-called ‘bullish’ trading opportunities, I have actually only one position in the portfolio and that is with SPXU which happens to be an inverse ETF on SPX to the tune of 3:1. 

I may add additional short positions, but that likely won’t happen today. I’m open to adding more shorts tomorrow, if the Thanksgiving Massacre continues. Right now I am playing it light and waiting to see if the bears can take out last week’s lows. 

Regardless of whether that happens, watch for the market to ultimately put in an emotional bottom at some point, though it may not happen until we retest the October lows. If that can’t hold, God-forbid, watch out for those February lows coming back into play. 

Regardless of how you decide to trade this market, remember flexibility is key – don’t get dogmatic on market direction. Trade with the ebbs and flows. 

Here’s the ‘bullish’ watch-list – but seriously, think twice before you make any trades. This market is getting whack!