IWM / URTY Long Follow Up

I like to have some calls or options if the set up is right which it was today with the lower low in the Q's, premiums were lower, it was easy to buy the weakness with strong 3C signals, however,  as you know I want to be in and out of options as soon as the first sign of a loss of momentum shows up, hanging around trying to greedily score a 3 digit gain has cost me a lot of money in options, they're like Vegas as far as I'm concerned, you sit there long enough and the house wins.

So I also like to have something that I can hold for a longer time without the concerns of time decay and some of the other things that make options different than stocks, thus the URTY long position will allow me to catch more of a trend if it's there to take whereas I might be out of options earlier and not be able to take full advantage of the complete trend. For me in a position like this, a 2-3x leveraged ETF is ideal and the IWM started really coming alive today.

Here's a look at the charts, you can probably get a bit better positioning intraday, but for me it's not worth the risk of waiting.

 IWM intraday may offer a little better entry...


3 min is seeing migration of the divergence

The 5 min is flying with a leading positive right at the head fake move below both support of price and the 200 day, so a nice head fake move there and it is clearly responding.

Look at this 10 min chart fly as the head fake move is made, this is exactly what I want to see with a head fake move and confirmation.

This 15 min chart just looks a lot better than it did last week.

We even have positives all the way out to 60 min charts here.

As for URTY, here are a couple of interesting charts.

10 min leading positive right at the head fake move

And the 5 min trend is pretty darn impressive at this point.

I have other assets to check.

I did choose the IWM and Q's over the SPY for a reason, if I see something that I really like about the SPY I will post it.