We had a list of support spots to buy coming into today -- at first we were going to day-trade them on reversals but noticing how heavy the tape was we decided to put on smaller starter positions swing (our starter positions are always 25% of full positions).
Here are all our positions. We won't add today -- in the unlikely event that we bounce from these lows, great. If not, then we expect to take some pain and add at next support zones sometime this week -- and thus most likely our targets will be rallies back to resistance (which was support today) for the over-shoot strategy.
The most important thing here is not to add any more today in order to reserve gun-powder as this pull-back feels more serious.
Note we already took some profits on RGLD BTU AA
Added starter positions also on MDR AGU
Whitney Tilson on The Art Of Value Investing
52 minutes ago