We’ve hit this for BIG 300%+ wins a couple of times this month on this vehicle while the banks crater. I like the action on this issue as it ramps hard and delivers some juicy profits.
Further, playing the weeklies allows us to play this with less time decay – the reliability of the instrument to ramp hard end of the week gives us a chance for a big score.
In September we’ve seen this happen on three occasions, and I’ve taken advantage of it each time.
You’ll recall I sent these trade ideas on twitter, many of you caught them and rode to big profits alongside me (only subscribers to THIS service could get this in time).
Below is a chart with notes that demarcate the technicals I’m looking at on the setup of the trade. Some were in the 58 call from Monday and sported 300% winner, others were in the spread from yesterday and netted a 100% winner (or more).
Earlier in the month I tweeted two other opportunities for a big score on this ETF. Chart of FAZ is below, you can see what I’m looking for.
Category: Technical Analysis