This Market Shift Is Coming

Posted by Joe Duffy | Dec 4, 2023 | Joe Duffy's Trading Advantage | 0 |

Last week I suggested UVXY call options with the ETF just under $10. Those call options if you purchased them are a few pennies offside. I purchased the January and in retrospect the March options were the better choice. I will look to exit these UVXY call options hopefully around breakeven.

Over the space of the last five weeks I have been bullish. We have gone from extreme bearish sentiment to if not extreme bullish sentiment….then at least to a point where there is a fear to be short.

That shift in sentiment should be enough to see at least a couple of down days in the near future. Possibly starting as soon as today.

Bigger picture I go back to my default mode which is patience. The next significant move could be either direction from here, and I would need to see more to decide which side I want to go with.

Thanks,

Joe

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Joe Duffy

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