Short Term Companion Trade
Last Friday morning I posted that I had purchased SQQQ calls, to take advantage of my belief that the stock market decline was going to accelerate into a potential crash on Monday Sept. 11th. Today, I have a companion short term trade, that while it stands on it’s own merits as far as the chart, the technicals and the market dynamics currently in play, compliments my call for a sharp stock market decline. Today completes a successful back test of the double bottom from last October for TLT. My target calls for a move back towards par(100) but since this is just a short term trade (4-7 trading days) using call options, I wouldn’t get married to a particular round number. Entry into late Sept. calls with a strike around 94-95 or so, should provide a nice return in the next week. (This is not investment advice, just my opinion.)