Mike
Does it look like the up-sloping trend line has been deeply enough broken to take a short position?
I'd be cautious of another bounce yet at this point-hence the "option" strategy I guess.
John
Yes,you are correct,a bounce in bull market,scalping some put options
John IMHO it has not broken enough and is at a critical point . In my opinion it could be time to buy with a close stop based on the trend lines.
Edit please see next post
After looking at the FAANG stocks and the overnight trade so far(9:54 pm sunday) one has to think that the plumber is right . NFLX and FB are in down trends. AMZN,GooG, and AAPl are on pull backs. How can the QQQ's go up without these stocks being on the positive side. They make up a large part of the QQQ.
Thanks CW,good points.
I was watching the ticker last week,for some reason AMD is being hoarded.
The FAANG stocks are now all positive(8:04am)
Good morning, MikeE
Agree that SHORT is the proper trade, but I think MUCH shorter timeframe. I am looking for a sharp drop into Wednesday close or perhaps first trade of Thursday.
Bought SPY puts yesterday this week expiration--will cover near close Wednesday
36 (+/-2)day trading cycle low due
Favor me with one of your charts for SBV---TY
Thanks for posting your trade. (rare these days)
May I ask at what point you would be inclined to admit you're wrong and throw in the towel?
Thanks in advance for your response.