Not much to report today in terms of the market generally. I do have a few ideas.
I covered my entire IYT short position today. Watch for a breakout over $62.
I haven’t given up on playing HMSY to the long side. I’m willing to give it another try at around $36 with a stop at $33.75. I think this can also be played using a more conservative stop at $35.10.
IBKR is forming a massive descending triangle. Ultimately waiting for a break below $13. It may take another 3-4 weeks to complete.
Waiting for a confirmaiton of head and shoulders breakdown on FDS below $52.
Waiting for a breakdown below $17.3 on IAT.
Today’s trades:
- Stopped out of FXA, XLV, SEA, SMH and SGP.
- Added MV long.
- Closed IYT short.
- Trimmed junk long SOL.