Posted by frtaylor on 29th of Jun 2016 at 12:29 pm
thinking of selling a SPY vertical spread (which I can do in my
IRA), but not til I see some MACD and/or RSI 5 divergence on a
30min or hr chart. Currently nothing even on a 15 min.
you could do that, or you could always close out 1/2 the
position instead of the full position with a tight stop in place
like at 50% of today's candle if you still wanted to ride it higher
vs doing the options
thinking of selling a SPY
Dow short-term overbought levels
Posted by frtaylor on 29th of Jun 2016 at 12:29 pm
thinking of selling a SPY vertical spread (which I can do in my IRA), but not til I see some MACD and/or RSI 5 divergence on a 30min or hr chart. Currently nothing even on a 15 min.
you could do that, or
Posted by matt on 29th of Jun 2016 at 12:30 pm
you could do that, or you could always close out 1/2 the position instead of the full position with a tight stop in place like at 50% of today's candle if you still wanted to ride it higher vs doing the options
True. Maybe watch for a
Posted by frtaylor on 29th of Jun 2016 at 12:32 pm
True. Maybe watch for a shooting star or doji to get taken out to the down side for 1/2 the SPY.
yes doji etc would be
Posted by matt on 29th of Jun 2016 at 12:35 pm
yes doji etc would be idea, also monitor 60 min and 2 hr charts for divergence or wedge like patterns
just noticing, VIX is nearing
Posted by frtaylor on 29th of Jun 2016 at 12:39 pm
just noticing, VIX is nearing its 20 ma. An August 25 call is $115. Hmm.