IYT Oversold and at support

8 Nis 2022

Transports (IYT) ETF is oversold and at support. Biggest holdings are UPS and UNP. Something to watch next week.

GM is also almost oversold, might take a stab if MFI touches oversold next week. Double bottom maybe?

11 Nis 2022

Not

Bought and flipped GM calls to lock in profits, gonna hold UPS and hope for a gap up tomorrow, lol. Ponzi Tuesday and what not. Small position and I already locked in profits from GM.

Be careful though, not really sure what the market is doing, if ES goes oversold then I'm buying more calls.

I said it last week but SPX almost never gaps down 2 days in a row without filling the second gap so there might be a gap play tomorrow with Europe looking weak again.

11 Nis 2022

Not

I think everyone looked at the same chart over the weekend and pumped transports in the morning, looking weak now.

I posted in my UPS plot that I flipped my calls this morning. Oversold or not, I'm not gonna hold a long position when the market looks as weak as it does.