No new trade with this post, but some charts to keep an eye on. If Semi's break anytime soon, the play here would be either Aug QQQ puts, options on one of the leveraged ETF's below. These are the charts I'm looking at, every day, for signs of a breakdown. Three charts to keep an eye on: SMH The big one, SMH, will lead the way down. But so far, holding tightly that Wave 5 uptrend line. SOXL A Bullish 3X Leveraged ETF - Puts if it breaks SOXL Aug Puts Expensive, but a hard break in semi's and SOXL can easily be cut in half. SOXS The Bearish version of above 3X Leveraged ETF - Calls if it breaks-out. I've purposely simplified these charts to highlight the precarious nature of the uptrend in semi's. As is evident from all of the three, a hard break in trend now will present multiple option opportunities for what could be a whopper of a change-in-trend for the semi sector. As stated first above, our QQQ puts will cover such a contingency, but for this PRO group I will be looking to add some more leveraged bets. PRO Active Positions Not much to speak of, due in part to my being missing in action last week. The good news is I'm paying attention again and know what I am looking for before our next trades. If still holding NFLX and IBIT puts, exit before Friday. I'm holding my QQQ Aug puts, come hell or high water.
