The $IYR divergence was a huge tell this morning when the market made an attempt to bounce. Even I went long a few names on what seemed to be a good level to buy stocks. However, I quickly exited all longs (all profitable) when I noticed the $IYR did not confirm the move.
Fast forward an hour later and stocks were shitting the bed. At the moment, my only position remains $DRV, and if you followed me in the trade, you might want to take some off here as we hit the August lows:
I’m expecting the August lows to fail at some point and will continue to hold a portion of my position. However, nothing wrong with taking some gains off the table.
If you enjoy the content at iBankCoin, please follow us on Twitter
nice trade, followed you and made some nice $$ …thanks again. planning on selling 85% holdings with Big Ben speaking tomm and throwing money around like a rap video
haha, nice win.
covered bit too early with the ugly close, but took a nice profit tho…went to $TLT and cash. thanks again for all the post
Hey Rajun,
I’ve started a small short position on NLY. Bought Oct. 22nd $16 Puts.
What are you thoughts on it? Saw the 200EMA breakdown and intraday some big volume to the downside.
Hmmmmm… Holding my shorts… This looks like a big one… Strong chance of continuation tomorrow… 1120 now belongs to the bears.. I may regret this tomorrow, but hey when has that ever stopped me..