Weekly Covered Call On GLD
Gold is having a golden moment. Relatively, that is. It acts well, but given that it has rallied eight-plus percent in a month, it is probably in need of a breather near-term for its own good. The metal has had … Continued
Covered Call On IWM After Bloody Week
After last week’s bloodbath in stocks, Friday brought a small consolation for small-cap investors. Maybe. During the week, IWM, the iShares Russell 2000 ETF, lost major support – which is three percent away. The 118-119 support goes back to March last … Continued
CoT: Peek Into Future Through Futures
The following are futures positions of non-commercials contained in the Commitment of Traders report as of August 18, 2015. Change is week-over-week. (Please note that these holdings are as of Tuesday. The S&P 500 swooned six percent in the next … Continued
ITB Breaks Out, With Improved Price Action, But Worth Waiting For Breakout Retest
ITB, the iShares Home Construction ETF, has broken out. Support at $26 goes back to May 2013, and was defended several times during late April and early June. Since late April, ITB had also been trading within an ascending channel. … Continued
Iron Condor On SPY Assuming Range-Bound Action Continues This Week
Of late, volatility has been volatile. Twice in the past 15 sessions, VIX, the S&P 500 Volatility Index, has surpassed 16, only to quickly reverse to the downside, and broken below 12 three times, only to reverse to the upside. … Continued
COT: Peek Into Future Through Futures
The following are futures positions of non-commercials as of August 11, 2015. Change is week-over-week. 10-year note: How might the renminbi devaluation impact the Fed’s desire to hike rates this year? The devaluation is at least disinflationary as far U.S. … Continued
Short Put On IWM After 118-119 Support Gets Defended
An options trade may be brewing on IWM, the iShares Russell 2000 ETF. In the July 15-31 period, shorts’ bearish bet on IWM paid off. Short interest went up nearly five percent during the period. The ETF fell 2.1 percent, … Continued
Taking Loss On EEM Following Last Week’s Buy-Write
Markets are acting very fidgety. Emerging ones are no exception. On Monday, off Friday’s intra-day high, VIX, the S&P 500 Volatility Index, dropped 16-percent plus. Yesterday, at one point it was up 17-percent plus. TLT, the iShares 20+ Year Treasury … Continued
Covering XLY Short For Small Profit
The SPDR Consumer Discretionary ETF (XLY) went through a lot last week – down 2.4 percent, as media and consumer discretionary stocks like Walt Disney (DIS) took it on the chin. On a weekly basis, the ETF is overbought and … Continued
Post-Exercise Of Naked Weekly Short Put, Selling IWM
Small-caps were big laggards last week. IWM, the iShares Russell 2000 ETF, lost 2.5 percent, versus drops of 1.3 percent for the S&P 500 Index, 1.8 percent for the Dow Industrials and 1.7 percent for the Nasdaq Composite, among others. … Continued