Seeing as the small cap ETF, IWM, is still holding over the key $115.50 level we have been observing, I am holding off on adding to my short exposure.
My portfolio consists of short AMZN SBUX and short bonds. But I am reticent to really go after any index shorts of volatility longs with the small caps refusing to break lower yet. Until that happens, I am probably going to hold off on any fresh bearish bets.
As far as the long side, here are a few constructive charts, especially if we see a rally into the weekend: AKAM CRM ILMN JMBA WBMD.
I’d just like to thank you for teaching me to play defense, esp with IWM.
It’s been whipping up and down $115.50. Lots of traps out there for longs and shorts. Thank you.
why are you short sbux
im trying to go heavy long right here
its a cup and handle beginning from the end of march, not a head and shoulders
It could be. My stop is over $79.
options are only getting filled at the ask
Wouldn’t surprise me in this market to see it go higher but it’s one of the few shorts I’ll take because it is fairly low beta in not heavily-shorted, so I won’t get squeezed badly.
Very nice symmetrical triangle on AMZN. That institutions love to raid that and cause gaps, so be careful. Fortune can be made though for those bold.