Review of last week closing for SPX and RUT to start the week.
Both SPX and RUT exhibit bearish signals from the candlesticks despite the Ichimoku has not indicate it.
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Russell 2000 (RUT) : Overbought
Mar 11, ’10 1:21 PM
Russell 2000 (RUT) : Follow up on Watching RUT
Feb 19, ’10 11:00 AM
This is a follow up post on my previous RUT reading.
Following on my RUT reading, I decided to established a Vertical March Call Spread at 630/640
The rationale is that I have already ride on some profits from my Vertical March Put Spread at 570/580
If RUT does goes higher, I will suffer some losses on my CALL Spread. And I will remove it once it reaches a certain level.
But, if RUT fails to goes higher or reverse, I will be able to close off my PUT Spread and let the CALL rides the way down.
Writing this post helps to crystalize my thoughts.
My next step is to :
- Watch how RUT reacts to the rate hike.
- Establish stop levels for my MARCH CALL Spread.
