TLT’s ran up into last weeks island of prices, and have shown a distaste for trading at such prices a second time. The $TLT is forming “the cup of life” which should dovetail nicely into our biblical theme here at iBC.
Conversely, the $SPX found balance at the 1880-1890’s again and said levels were defended.
I am looking to cover my $ES_F short here this afternoon, and picked up $VDSI stock and $AMZN yolo’s for the afternoon festivities.
I am loving this price action in Crude, which we’ll look at in After Hours with Option Addict.
OA
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is there a 3x short for bonds?
http://www.google.com –>3x bond etf<–
Results: http://www.direxioninvestments.com/products/direxion-daily-20-year-treasury-bull-3x-etf
TMF TMV
boom
+1
hahaha
@options addict
Bookmark —>>> http://www.lmgtfy.com
MJ stocks could get jiggy here if the action in TRTC is any indication…
OA, would the ‘cup of life’ be a bullish or bearish chart pattern? Hopefully, not too obvious a question, as it seems this would be in reference to a bullish cup and handle, but just wanted to confirm. Thanks in advance.
I think we need to see how far it rolls over here to know for sure. A cup and handle would imply bullish. A double top would confirm bearish.
Makes sense, definitely something to keep an eye on. As a side note, cup and handle are the shape-like technical patterns I know haha. Thanks again for the response.
What are $AMZN yolo’s, puts or calls?
Same week expiry.
Ahh. Now is that long or short?
Calls. Not sure why I didn’t mention that, but I am sure it might have been more obvious in my mind as I covered short, got long.
I added a little block of puts in $MRVL, so I have a slightly more balanced exposure in my book, which was foolishly long. $MRVL’s gotten stuck a handful of times at $9.50 lately so it should be easy to manage.
kidstockibc gets his props, he was right, as of right now, about us rallying off the lows of the day.
at what price would you set a trailing stop?
I’ve been long TLT since sub 124
Agree on crude and bonds.
Crude is above the long term downtrend here and may have actually bottomed.
30s have touched 2.50% only a few times since 2007. Today was one of those times. A good spot to make a sale if you’re so inclined.
LOL! The cup of life!