TZA Long, IWM Short due to weakness in XLF & SPY
- Very notable drop in the last 3 days for all sectors. Most important factor to remember is always following the trend and dont try to fight against it. Even though today there was a lot of opportunity in both direction it was quite a choppy day.
- I mentioned yesterday any pop bullish on premarket data will be a good short for all sectors and i will be getting in too.
- Took a decent 6100 shares position in TZA which is leverage 3x ETF for IWM short.
- SPY and QQQ now below 200 daily MA.
- Very oversold on multiple time frames would like to play a bounce Monday when we have all time frames oversold at a same time, ideally a gap down Monday for a bonuce play.
- All trends still favor the bears expect we are still in a weekly uptrend, SPY approaching that weekly support very soon.
- I mentioned yesterday any pop bullish on premarket data will be a good short for all sectors and i will be getting in too.
- Took a decent 6100 shares position in TZA which is leverage 3x ETF for IWM short.
- SPY and QQQ now below 200 daily MA.
- Very oversold on multiple time frames would like to play a bounce Monday when we have all time frames oversold at a same time, ideally a gap down Monday for a bonuce play.
- All trends still favor the bears expect we are still in a weekly uptrend, SPY approaching that weekly support very soon.