Friday, November 15, 2013

Liking IWM short or SRTY long

I would add to the SRTY 3x leveraged short Russell 2000 if I had not already added and if there were any advantage which there is not as the position is flat at break-even, but it does look like IWM is going to give us that nice Channel Buster Example I can use for a Resources and Concepts post.

 IWM downtrend Channel Buster looks ready to fail (A type of head fake move).

 The intraday 1 min is not looking good as IWM underperforms again today.

And a zoomed in look at the 15 min chart shows it too has flipped and we have some bearish engulfing candles on timeframes from 15 to 60 minute.

If I didn't have a position, I'd enter SRTY in this area or perhaps TWM (both long). 

If there's a decent intraday pop (set up), I may consider some IWM puts.

No comments: