The $RUT chart inserted above (courtesy of stockcharts.com) shows a failed breakout above a double top at $RUT 820 (see area encapsulated by oval). Could turn out to be a textbook bull trap. If today’s $RUT weakness persists going into the close I may sell the long TNA shares I have been holding as a hedge for my larger short $RUT / long vol positions. I am up a bit more than 15% on my long TNA shares and it would be a shame to give back those gains, even on a small position.
2 Responses to Bull Trap?
This bull is having a fit right now. I think your TNA will do well still.
Gonna hold TNA for now. Glad my UCO is rockin’ again today. More to do with geopolitical issues than more QE, imho.