As i mentioned a few days ago the volatility leading up to the monthly expiration tomorrow has come to pass. We currently have 10 open positions in the Alpha Hunter put spread portfolio and considering the level of volatility I am inclined to not add more trades until we close some off. We have the COP put spread expiring tomorrow. I detail some management options...
1.EMA's crossing up soon?
2. Price currently oversold?
3. Price bouncing off support?
4.Can price break through top dotted line?
5.If price breaks bottom dotted line, new support can be searched for? (Average down?)
Theres could some potential for CGX here. Seems to be matching the patterns for XLC and AMC. They're all running flat Elliott correction waves. Could also be a seasonality effect summer is approaching more people want to go out, movie theatres are slightly increasing capacity.
The past week there was rotation into Energy (XLE). There is precedent for rotations into energy marking tops and continuing as safe havens during corrections.
In the bottom chart, you see the rotation happening in September 2018, just before three months of market declines (21% on S%P 500 and 24% for Nasdaq).
Looking back further to the 2000 tech bubble, look...
Here are the sector winners and losers the past week. XLB (Materials) wins out, gaining 1% compared to the other SPDR ETFs combined. XLC (Communications), XLK (Technology) and XLE (Energy) at the bottom.
Breaking out XLB into it's top performing stocks for the week, you can see which ones carried the weight of the moves including EMN, LYB and CF. All of these...