Last week I started a short term position in SPY July Calls and a longer term Aug IWM Calls, I closed the SPY calls at a profit last week and decided to wait on the longer strike IWM calls, but I see no good reason to hod them right now and it looks like a decent area to close the position at a profit.
A 19+% profit.
IWM 1 min with what looks like a parabolic move this morning.
3 min negative divergence on price strength.
5 min relative negative divergences
And a 15 min negative divergence. It looks like probabilities are against the IWM calls at this point, I see no reason to continue holding them, I'll be looking for a new August call position at better prices so long as the charts move that way in to a pullback.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
No comments:
Post a Comment