Earlier this morning I've decided to add more CALLS at 145.96 (see chart above) as it was retesting that rising-channel resistance (see arrows).
I think there is a chance where it could fall back down little more to fill the "Gap" area at 144.40ish just to shake people out, as already too many traders have been waiting and anticipating this bounce at this level.
But, also it could be a legitimate bounce where iShares Russell 2000 (NYSE:IWM) could take us to next leg higher, which I am thinking 157ish as my next target.
Either way, I am happy with my entry today as I am still holding sizable CALL-positions on IWM.
It was lot of waiting game for months in the early part of my trades (as you can see my positions status chart below), but since the September-run now I believe IWM is preparing to really stretch its wings once again.
Let's see how it plays out, more updates later.
#TimeStamp
- CALLS since 140.18, 138.46, 136.53,139.30,141.05, & 136.72
- Closed 1/3 @ 150.13
- Added CALLS @ 145.96 today
