I'm already fully loaded for bear so to speak, but if you are looking at the charts and seeing the same thing I am, I believe we are right on the eve of the break below $IWM $118 which should lead to a move lower eventually making a lower low than the October lows.
The charts look horrible and I really don't like chasing anything, but I think if I had room to add to any of my short positions, I'd probably be doing it if I hadn't already in to this morning's strength.
I'll have charts up shortly, but I'm telling you, they look horrible and I'd use ANY bit of price strength to enter shorts art a better price, although this area overall is a great area with much lower risk.
Charts are coming.
My personal core short positions are in SQQQ, SRTY and FAZ (3x short QQQ covering Tech, 3x short Russell 2000 covering small caps and 3x short Financials covering, uh... well Financials.
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
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