Going long was the wrong bet. Heading into the close, all indexes are at the lows of the day. DJIA -220 points. SPX -1.3%. Nasdaq -1.7%. VT (global market) -1.2%.
I plan to close RYRSX (2x Russell 2000) end of day for a -2.8% hit. The Russell 2000, which went straight up following Trump's election, has given up all of its out-performance and then some. The YTD return on small caps is now 0%. The energy sector, which also rallied hard post-election, is now off -20% since early January.
Investors accustomed to buying dips may try to bounce the numbers in the final minutes, but what I'm seeing is a clear breakdown in appetite for risk. I don't think it's a buying opportunity.