Not sure what I saw that encouraged me to take the position early, As CLK pointed out in my first post. I certainly could have gotten a better entry!! Rolling Eyes... But I think this week favors the upside and the FOMC will help the case IMHO. Whether it be a safe haven, or what have you I think the course is up. I will not stick with this trade past this week because as Don said (Chief) the possibility of a major decline looks favorable on the charts. But Short term I think we are heading to 128.70 this week to close the gap, (130 IF NK get's stupid) Bearish sentiment also supports this thought. I will exit there with about an 80-90% return. I also think we are about to take off to the upside in spx. with a pause/pullback on or around the 22nd-23rd. build a next shelf to take us into Oct to set up the big decline I mentioned. I would rather be long TLT than SPX because chart patterns suggest both up this week, But holding a long position in SPX over night is dangerous with NK news that could drop it 25pts at anytime. But TLT given the ST bullish set-up without NK, could only be helped by such news. Most here could give a crap what I think, But I deal with the same thing from the Wife!
Just babbling and sharing an opinion....
Best...
OP
Edited by opinionated, 17 September 2017 - 07:47 AM.