Brazilian Shorts

21 июн. 2019 г.

Here's an idea for next week....

EWZ pattern looks similar to the last top. EWZ tends to trade with gold (though Brazil isn't even that big of a producer.) Looks toppy, just like gold. Will look at this Monday.

EWZ options have small spread and good liquidity.

24 июн. 2019 г.

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Not liking the currency trade on this one. iBov might be topped out but BRL seems to be getting stronger as well. Could just waffle around up here for a while.

24 июн. 2019 г.

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Not sure I like the currency trade but iBov looks toppy. Decided to go with a small out of money put position. When Brazil tanks, it tanks hard anyways, so the safest play here is probably out of money weekly on an all or nothing trade.

25 июн. 2019 г.

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Pretty sure we get a gap fill here. Now you guys know why I love playing with this ETF.

25 июн. 2019 г.

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Seems kinda greedy but I'm staying in this for another day or two because I think gold is gonna tank and Brazil tracks gold pretty well (don't know why though).

25 июн. 2019 г.

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Ultimate target is $41, but I might cash out tomorrow since I'm holding weekly. Typically this will gap down after a day like today because the Brazilian market opens before the US and currency trades 24 hours.

$42.5 target to get rid of the Fed rate cut pump, which the US market already has....

26 июн. 2019 г.

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Flipped the puts when it got close to the gap fill.

I had weeklys so didn't have a choice, may roll the profits into next weeks puts after I see what it's doing.

26 июн. 2019 г.

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Rolled into next week puts, as iBov seems to want to close the gap from this morning. I don't see any money going into any market aside from some short covering.

26 июн. 2019 г.

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Note: EWZ usually trades in the same direction as gold, I flipped my EWZ and GLD puts this morning, just rolling into EWZ puts with profits. I think GLD and EWZ have another leg down to support, but it may not happen until next week.

27 июн. 2019 г.

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There may be one more leg, but I'm not really sure. Out here because the Chinese are pumping futures.

27 июн. 2019 г.

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Nice gain flipping puts here, for some weird reason EWZ trends with gold. Looks like there may be a new ATH coming up for another short opportunity.

28 июн. 2019 г.

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Wish I had gone long when I sotted the reversal. Oh well.