The market has been pulling back for the past two days. The volume on the pullback has been low and below average. This is a very good consolidation and pullback. I'm waiting for some targets to get hit and for me to get long.
I'm going to risk more than I normal. I will buy a bunch of ITM calls on the IWM as it pulls back. If I'm going to buy naked calls. I need to exit if volume gets higher on the pullback.
I'm going to bet about 10% of my portfolio on the pullback and expecting bullishness in the until May.
IWM needs to pull back another 5.6% from the close of today @ 43.26. This is very likely given the volatility of the markets lately.
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