Setting Up For What Is To Come

Posted by Joe Duffy | Feb 6, 2024 | Joe Duffy's Trading Advantage | 0 |

Monday wasn’t stellar for me. Delta Airline stock closed down 80 cents and slightly below what had looked like a very good long entry on Friday. I won’t give this one too long of a leash. Mara was also down but the spread protects against a lot of that. Still it needs to find a footing soon. ARKK which I discussed yesterday I never did anything with.

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I might have done so had Delta looked better, but as a general rule I never want to start adding more positions if the ones I already have are underwater. In terms of the general market I am, 50/50 we could see another attempt higher, but overall I think this could be a down week, setting up another pop to new highs next week. So I am short term bearish, but still think higher highs are in coming.

Thanks,

Joe

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Joe Duffy

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