Lanmar
Long

Boeing - non-consensus long (similar to oil). Sector rotation...

NYSE:BA   BOEING CO
People think wave 2 is coming then oil and Boeing must go down. Market works against consensus. Pay attention to price. Price says up. 213 is my target.

I am long BA 200 calls (short dated)
Comment: I am adding here at 181. Important that the lows do not exceed ~179.xx and it gets scooped up before the end of today. We do not want to see a weak close under 180ish
Comment: Final layer added
Trade closed: stop reached
Comment: Since my stop at 179 I've been watching BA closely to get back long.

The blue region in the image below is a very attractive spot to get long *if* it gets there. If price gets to that zone, I'll publish a new chart on what I'm seeing that makes that a high conviction reversal.
Comment: Back long at 174.80
stop at 167
Comment: The more this price action develops the more bullish I get. Still long from 174.80 (I am long the July 31st 180 calls).

Comment: Still very resilient on a day like today...
Comment: I like the long from this zone
Comment: moving along

Comments

Good Job! very good risk management.
+1 Reply
Lanmar schery0581
@schery0581, thanks, that's the only thing we could control!

Kudos to your concern - well read.
Reply
My only problem with this price it could be a probe move higher on low volume if the market was not in fugazy mode I will indeed take the risk from here but when I look at VXX this come up ??????? witch one is it?
+1 Reply
Lanmar schery0581
@schery0581, Treating each instrument independently helps you think less and follow your process more. If you see something fugazy in macro, then find a way to trade that or don't participate until you're comfortable. Nothing wrong with that. But my first point is key... In my experience you'll never have that perfect clarity in markets
Reply
@Lanmar, I understand perfectly what you're saying about price action. Time frame will be very important in some key level.
Reply
Congrats ! I ve been following for a while, you managed it pretty well.. I failed .gave up when it tanked
Reply
Lanmar scotnewbie
@scotnewbie, thanks, it's been a difficult one to trade. I lost on two trades before the third that worked out. I generally have a 3 strike rule before I no longer follow the idea... Unless the 4th set-up is too good to pass :)
Reply
Great analysis thanks!
Reply
I am long too. I have a different outlook of the correction but who cares, it is going up soon.
Reply
Lanmar MONEYMENOW
@MONEYMENOW, Are you still long? What's your outlook?
Reply
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