Reload FAZ Now!
Play November 24 Calls
PLAY: Buy the FAZ November 24 Calls (FAY KW) at or under $1.60 (or best price) good for the day. Place a protective stop limit at $0.95 and a pre-determined sniper sell at $3.50.
Dear Bottarelli Research Member,
The market internals continue to weaken, which is why I think we should get repositioned in the Direxion Daily Financial Bear 3X Shares (FAZ – NYSE). Earlier today, I mentioned that I wanted to see the FAZ dip back down to the 50-day moving average before reloading our position. But as I continue to monitor things, I’m not so sure we’ll see this pullback occur.
The major market averages have been weaker for four (4) consecutive days now, lead primarily by weakness in the financial sector. As we’ve seen before, when the selling pressure gets going, it can intensify very quickly. Let’s make every attempt to profit off this weakness, which means the time to reload our FAZ calls going into November is now! Here’s the play…
PLAY: Buy the FAZ November 24 Calls (FAY KW) at or under $1.60 (or best price), good for the day. Place a protective stop limit at $0.95 and a pre-determined sniper sell at $3.50.
And as always…
Lock and load!
Sincerely,
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