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Although I don’t trade them, I persistently find the cryptocurrencies to have fascinating charts. Every line seems to have meaning and import. Notice how Ethereum scraped along its supporting trendline, vaulted higher, and then weakened at the horizontal.
I’m out. I’m done. I’m flat.
Well, almost. I decided to quit messing around with ANY remaining shorts since I keep stating how deeply oversold things remain. Why have shorts just for the sake of getting stopped out?
Thus, for the first time in years, I have one and only one position: a short in TLT. So if the market wants to break my heart, it would be a good time to crash right about now. Because I am only short bonds.
Even though I believe we’re in for more big “up” days similar to yesterday in the near future, I have preserved a small stable of short positions whose patterns are still good enough to keep (at least until such time as they may be stopped out). I therefore offer you my tiny gallery of twelve remaining shorts:
This is pretty basic but maybe useful to some small portion of the Slope community.
I’ve been trading options with money in a smallish account for about 11 years. It isn’t small because I have never made money, but because I routinely transfer profits over a certain dollar amount into another “leg” of our investments. I have a larger, conservatively invested account with my husband and I make decisions on it much less often. It is designed to grow slowly. My options trading account is for making money in a higher risk trade, generating income and hedging during downturns in the overall market, downturns large enough to be considered a bear market, or during a recession. It is a way to capitalize on movement up or down in a stock, even to enhance profit one makes on a long-term stock owned.
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