SRS is testing a long term support, still holding on, barely

Yes, I’m still holding on to my SRS from yesterday. I’m down $10/share at the close today. However, we are just testing a long term support line here. Furthermore, the market is only up about 1% today whereas SRS tanked 17.58%. This is definitely capitulation of SRS we’re seeing now. The question I ask myself is, would I be buying at this level? Given the above two reasons, the answer is yes. Yet, I would definitely ditch it early next week if there’s continued weakness for SRS.

My biggest mistake for this trade is entering too early. Note to self, wait for a bounce from support before entering and set a hard stop just below it.

Ultrashort Real Estate

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