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IWM Trade Discussion + Stock Market Analysis (video)

A discussion on the reasoning for shorting IWM (small cap ETF) today, including my trading plan followed by a brief overview of the stock market via SPY & QQQ.

Oct 10, 2016 12:27pm|Categories: Equity Market Analysis|Tags: , , , , , |6 Comments

6 Comments

  1. Profile gravatar of Mrg5a
    Mrg5a October 10, 2016 12:50 pm at 12:50 pm

    Hey Randy, SOX (SMH) looking ripe as well. Semis leading the market but it is down on and up day.

    https://www.tradingview.com/x/UTrBRErL/

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    • Profile gravatar of rsotc
      rsotc October 10, 2016 1:26 pm at 1:26 pm

      Agreed. Semis looking very ripe for a pullback but after stepping in a little too early recently, I’m watching the sector & the leading semi stocks for the next objective, high-probability entry for another SMH or SOXL short entry.

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  2. Profile gravatar of stock51
    stock51 October 10, 2016 1:44 pm at 1:44 pm

    Randy, on your short IWM, what time frame, do u use? Monthly, weekly?
    Thank you
    Jake

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    • Profile gravatar of rsotc
      rsotc October 10, 2016 2:08 pm at 2:08 pm

      The IWM short (not an official trade on the site) from this morning is based primary off the 60-minute charts although I’ll be monitoring time frames ranging from 5 minute to 60 minutes. So far it looks like someone hit the pause button on the markets as soon as they hit those resistance levels right after the opening rip today. The Columbus Day holiday (today) is typically marked by light trading volumes as the bond market is closed but so far, it looks as if everyone shut down & went home right after that opening rip.

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  3. Profile gravatar of Teeps01
    Teeps01 October 10, 2016 3:53 pm at 3:53 pm

    Looks like it’s going to stay up here unless something dramatic happens. Probably gap up tomorrow from this flagging type pattern. No sellers today.

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  4. Profile gravatar of rsotc
    rsotc October 10, 2016 3:58 pm at 3:58 pm

    I was hoping/expecting for a little more but so far, my IWM short is good for about 0.40% (not including the leverage/over-sized/day trade position used), not bad for a day trade but not great as it appears the IWM has flat-lined, drifting sideways to slightly lower after spiking up into the aforementioned resistance level on the post-opening rip. I’ll be closing the bulk of my position at or just before the close & bring home a small swing/overnight position.

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