Korean pumptardedness

EWY posted the same pattern as it did before the last 2 big drops. Entered into some puts today for next week.

There's still room for it to go hit resistance and ATH, the 2 lines I've drawn. If it goes up from here, look for a similar pattern before shorting.

I'm bearish for Monday, but who knows, they can do another vaccine pump, 3 weeks in a row, lol.

Note, if it tanks on Monday, wait until Tuesday to short, it usually does a 2 step drop with an up day in teh middle.

Commento:

It also looks like the currency has topped out....

I usually short EWY on Wed afternoon, seems like it likes to drop on Thursdays. I shorted it this week, and KOSPI didn't move but the currency dropped, for a 66% overnight gain on puts.

Commento:

They pumped it hard.... 2%. Buying next week's puts this week. If KOSPI rolls over tonight, I'll buy tomorrow. If not waiting until Wed, because Korea always drops Wed night.

Ordine annullato:

Waiting until Wed, ES and RTY MFI went oversold so the market is going to rally. I guess the third time is the charm.

Trade chiuso manualmente:

Bought puts yesterday and closed it out.... keep in mind Korea trades tomorrow, so do next weeks puts if you're staying in the game.

I think it drops tonight but bounces up Friday because that's how the pattern works

Ordine annullato:

DOllar broke support, looks like EWY is going parabolic, lol. Gonna be hard to short if the currency trade is going the wrong way.