UVXY - very short-term I was hoping for another gap-up wave 1-2 this morning, which would have changed the tone of this update to a much more aggressive, bang the UVXY table Buy-Buy-Buy!!! Nonetheless, the pattern is still alive for later in the week, but it needs overnight gap-ups to ignite. Still looking to roll Jun 17th calls into further out expirations, July 15th, July 1st or for the more aggressive, Jun 24th. Or, consider all of the above equally split. QQQ - Short term (120 minute) QQQ has found some support around 275, where it could sit for awhile +/- 5% depending on news. The next leg down should be the panic leg, targeting closer toward 200. Whether it hits before or after the weekend of the 4th is the big unknown. Our current option expiration bet is for July 15th, lots of time left for mayhem to unfold. Bitcoin - Longer Term The problem now for Bitcoin is the low $20K's. It should be massive support, but $20K fails the mid-teens come next. Like stocks and bonds, the only trade I see is on the short side and that is only if $22K fails by more than 10%. Risk way out of line for new long positions since crypto trades while we sleep.
