IWM: Buy The Dip
Kay Kim | Nov 08, 2017 09:05PM ET
Earlier this morning I've decided to add more CALLS at 145.96 (see chart above) as it was retesting that rising-channel resistance (see arrows).
I think there is a chance where it could fall back down little more to fill the "Gap" area at 144.40ish just to shake people out, as already too many traders have been waiting and anticipating this bounce at this level.
But, also it could be a legitimate bounce where iShares Russell 2000 (NYSE:IWM) could take us to next leg higher, which I am thinking 157ish as my next target.
Either way, I am happy with my entry today as I am still holding sizable CALL-positions on IWM.
It was lot of waiting game for months in the early part of my trades (as you can see my positions status chart below), but since the September-run now I believe IWM is preparing to really stretch its wings once again.
Let's see how it plays out, more updates later.
#TimeStamp
- CALLS since 136.72
- Closed 1/3 @ 150.13
- Added CALLS @ 145.96 today
Original Post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.