Closing (IRA): IWM November 5th 203 Short Put... for a .15 debit.
Comments: Opened for a 1.93 credit (See Post Below); closing here for .15; 1.78 ($178) profit.
IWM trade ideas
Closing (IRA): IWM October 29th 202 Short Put... for a .13 debit.
Comments: Plain Jane profit-taking here. I would ordinarily roll this out, but implied volatility has crushed in dramatically here to 21.6% from where it was at over 25%. Collected a total of 5.18 in credits with rolls (See Post Below); closing out here puts the finishing touches on a realized gain of 5.18 - .13 or 5.05 ($505).
IWM Big channel - Resolution up? IWM in a huge accumulation channel and will most likely lead the market higher in the coming few months. Small caps season is coming. Enjoy it.
10/18 IWM(1) i expected a breakout and re-test before dip last week
(2) things are going as expected
(3) wait for a re-test, good to go
IWM short 228.00 Look daily heading up stoch and above all ma. Vol in buying low more selling than buying. Look Friday daily candle bad.
Weekly side ways has not crossed up thru.
Short 228 to 215. 6% profit
Still short very small shares
$IWM -MA's and vol shelf lookCheck out the gap off of the 8/21 ema and 50 ma cross, tied in with above the volume shelf POC. UGLY UGLY UGLY candle Friday with huge rejection off downtrend line. Bulls you need to save this thing at the POC / MA support area. Do so and we could see a big upside move really fast. Failure at that level and we likely go to test the uptrend line.
$IWM - half bear countHere is what I call the half bear count. Full bear count is that wave IV bottom isn't in and we could go sub 210, but I just dont see that. This I think is more plausible. We are still looking for minute wave 2 bottom, and we are in a running flat (wave b can be as high as 123.6% of wave A). Now our wave C bottom (which is wave 2 bottom) will be between 61.8 - 100% of A (somewhere between 217 - 221). Note: invalidation for this count would be the 100 extension at that 217. If we break that this count is not valid
Note: IWM is one of the hardest out there to count right now. Sideways is terrible and it has been for a year. When this thing does breakout - whether it is up or down - it is going to be a huge move. Bigger the base - bigger the move
$IWM bull countI really dont like what I saw on Friday, but this is our bull count. A series of 1-2's that should find support at the pivot AVWAP and POC. From there we go RIPPY mode and break the downtrend resistance and finally see ATH's. I really hope that this is what we are seeing, but like I said, I really didn't like Friday's action. It may have just been OpEx manipulation though to kill calls, who knows. We should find out early next week, probably by Tuesday or Weds
IWM headed back to 2201.Dark cloud cover
2. Strong rejected rejection from 227/ Trendline
3. High selling volume
Ev's and clean energy may take a hit this week
Will the small caps breakout from their yearly channel?The $IWM has been stuck in a sideways channel for the past year. With inflation fears and a rotation out of big tech, see if this sector can finally lead the market as it has done in the past. A move above 227 in the coming sessions opens the possibility for a massive breakout above 234. Remember that the bigger the base the bigger the move. The measured move if accomplished would take the $IWM above 255
Closed (Small Account): IWM November 19th 198/204/246/249 IC*... for a .54 debit.
Comments: In for 1.08 (See Post Below), out for .54 here via a good until cancelled order to take profit at 50% max.
* -- Iron condor. This was actually an iron condor variation -- a "double double," the setup for which was explained in the original post.
Weekly Bull FlagWhen in doubt, zoom out. About as basic as it gets. measured move of $63 to $290 next year.
$IWM - mini breakout before hopefully bigger breakout this winteIWM premarket is looking very nice. Above $225 and the $230-232c come into play. Will need to watch the lower interval charts to see what happens but I think we are moving in the right direction for a winter rally. Above $232 and then above new ATH ($233.64ish) and we are off to the races. Many people are claiming that the IWM should be at half value or zero. That doesnt make sense since many of the companies in the IWM or Russell 3000 have already dropped 50-80% since last March/April. Will need to watch today and the next few weeks for confirmation and before going big into this trade. GLL!
