I have been short IWM for a while, but closed out those positions for a small small profit. But If I would have held them it would have been a nice day. But I rolled them over to some SPY puts.
Looking at the chart it looks like we have a possible 113 double top, with the market right on the moving averages. I don't think it will break down, as the government is now throwing out 3 trillion dollars around. But, this is what we have a crap show in washington. Technically it looks as if we are heading lower, and you can see today was a red candle, and I went long the puts yesterday. As the market began to sell off, it was a perfect time to get in and play the down side.
I have been holding straight puts and not selling a calendar spread as much. Riskier, but more reward. I have been using the average down strategy, and it has seemed to work so far. But the more consistent move is to sell volatility.
On which basis you pridict moving averages or price action ? @bigram13
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? I am confused a bit on the question? I use 20, 50, and 200 moving average
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What else you use with moving averages ?
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fib levels, and just really support and resistant trend lines. You Trade?
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Yes
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