I turned on CNBC this morning to see what was going on and why the market is down big. First thing I heard was talk about a recession. I immediately came over to my PC and put in an order to buy TWM. It's an Ultra Short Fund I've been following and wanted to buy it a few days ago because I had a feeling something like this might happened but I never bought it. Well, today gave me an obvious good reason to get in. Basically playing on the fear of the market and also hedging out my portfolio.
The arrow shows my point of entry. Got in at 64.78 with a stop at 62.50 which I might raise on Monday and buy more shares, depending on how things play out. If we rally to the upside it's showing we're in a strong situation but if it continues to decline the overall public could be losing confidence in the situation. It'll be interesting to see how things play out.
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