That is not too bad of a downward angle. Also we are roughly in the bottom third of the channel. It's too late to get short I think and too rough to get aggressively long. I will continue to hold my stocks and sell calls against them for income right now.
BTW I bought back my WNR calls at the beginning of the day and bought a little more WNR. I also got short EDZ via options (that means I am mildly long emerging markets).
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