The only positions I have left on my portfolio are the WOLVERINES of non-directional strategies: Iron Butterflies! :) These little trades seem very fragile, but do not let that short coverage area fool you, they take a punch or two, or four and stand to fight and make money. See the MNX profile, I entered the same day as the RUT Iron Condor, I'm out of the condor with -13% and I'm still in the Iron Butterfly and down only -5%.... You do the math :)
Position's details and price chart:
01/22 MNX Iron Butterfly
01/22 NDX Iron Butterfly
01/22 RUT Iron Condor
2 comments:
I love the animal planet, national geographic analogy. Sharks and Wolverines meets the 3 Stooges and Laurel/Hardy! You are right about the condors falling apart sooner than the iron bflys.
Now it will get interesting to see if it bounces up or we continue down like March 2009 or Oct 2008.
Happy Trading!
Gary
eheh What can I say, I've been watching too many nature videos with our son.. Got inspired :)
Yes, let's see if we find some support, I wouldn't hold my breath too much until we hit SMA50 on the daily charts.. Now, if we break that level then brace for more.
Gustavo
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