Markets started to rollover earlier than I thought and our pick EHTH couldnt survive broadbased huge selling in markets and got stopped out. We took a loss of 2.8% on EHTH.
We gapped down this morning and kept on selling all day long but volume was not that heavy. We might have started the new leg down and may go down to retest the lows and beyond. But I expect volatility to remain high and with a gap looming upwards, the downward move may not be straight forward. An area between 1311 and 1327 may act as support and may kill the entire down move so lets be prepared for volatile days ahead and trading a smaller size with reduced risk could be good idea.
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