Thursday, August 29, 2013

Opening IWM OCT> $100 Call, URTY long Also works

I chose to go with the calls, but URTY, Russell 2000 3x leveraged long ETF would be a close second, I think it would be better if we get a more sustained bounce.

Here's what I like in the IWM as well as URTY (long).

 The intraday pullback has transitioned to a positive divegrence 2 min

 The 5 min is leading and leading for today specifically.

The 15 min overall "W" base

The 30 min chart positive at the second base area, it looks like a real bull flag, I wouldn't normally trust it if I weren't seeing positive 3C signals

We even have a clean 60 min IWM positive with most of the positive at the second bottom as it should be.

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