Locked and loaded for the BIG correction!
Bought TECS calls expiring January 2020 and UVXY Calls expiring September 30th . Don't flinch if they drop. Just wait and cash in when they pop! I'll update weekly. Use only risk capital.
Target 1 for TECS is $21 and target 2 is $30
UVXY Target 1 $50 and target 2 is $75
Because they are options, reduce your position and be patient. I set no hard stop on those.
The above are only my opinions and are not trading advices. This is just something to get you thinking... an idea, THAT'S ALL! I am not responsible nor liable for any financial losses you may incur following my ideas. Also know that leveraged ETFs such as UGAZ carry additional risks. READ the prospectus! Do your own analysis and due diligence PLEASE!
Target 1 for TECS is $21 and target 2 is $30
UVXY Target 1 $50 and target 2 is $75
Because they are options, reduce your position and be patient. I set no hard stop on those.
The above are only my opinions and are not trading advices. This is just something to get you thinking... an idea, THAT'S ALL! I am not responsible nor liable for any financial losses you may incur following my ideas. Also know that leveraged ETFs such as UGAZ carry additional risks. READ the prospectus! Do your own analysis and due diligence PLEASE!
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Is today THE DAY! ... we'll see ...
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It has been a roller coaster week but today is a good step towards the market correction expected in the next few days/weeks. Very promising indeed!
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With Trump's new tariffs we could have a GREAT WEEK ... to the downside on the markets.
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This week, so far, has been a low volume market lifted by small traders reacting to non eventful news about the Trade War. It is very typical to have the market go green for little or no reasons when the volume is light. We are now at resistance one more time. The bear flag is just getting wider. Hopefully we show some further weakness today and close below resistance. Regardless, next week, when summer vacation ends and the volume is back at the rendez-vous, ... the real action will start to unfold... have a GREAT LABOUR DAY WEEKEND!
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Nice signs of weakness on Friday...September is nicely setup for the big drop!...
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Nice close today! :) With the SPY hitting a new high, I have added to my UVXY September 20th calls. The timefame is a bit short but they are so cheap that I used money I am willing to lose and if I am right, the FED will NOT lower the rates this coming Wednesday. If that is the case, the Market which has priced in a 25bp reduction will go into a major selloff and my 5 cents calls could be worth several DOLLARS! A bit of a gamble but ... In the mean time, I still have my longer term TECS calls which will undoubtedly pay off before their January expiry date.
