Most anticipating an upside breakout with the Triangle and Squeeze are being so long. The market however is heavy and money has been flowing OUT of mega-cap to chase new Shiny IPOs and concepts. The earnings reaction of FDX is one example. Or SNOW hitting 100 bil plus market cap. And the market is running low on GAS.
Forced to make a decision, I will still be long and anticipate a 3400 to 3500 run-up, which will be likely short lived, Strategy could be A Call vertical or Put credit spread or a bull butterfly of 3250/3350/3450 for Jan 15, financed by a PCS around 3135/3100.
Forced to make a decision, I will still be long and anticipate a 3400 to 3500 run-up, which will be likely short lived, Strategy could be A Call vertical or Put credit spread or a bull butterfly of 3250/3350/3450 for Jan 15, financed by a PCS around 3135/3100.