30Jan3:44 pmEST

Diving Into Super Bowl Weekend; Chess Moves

B8NPq78CEAElv4b.jpg-large With the expansion in price range and volatility in recent weeks, combined with the inability of the market to sustain a rally late this week, I have placed bearish bets into Super Bowl weekend. I went long TZA at $12.83 with a stop-loss below $12, betting on a major breakdown in the Russell 2000 Index next week. This is a triple-levered short (of the small caps), volatile ETF and not for the faint of heart. I also went short LUV at $45.37 with a stop over $47.40. I went short UAL and NKE earlier today. Regardless of the outcome, I am confident I can manage the downside risks to my trades. Further, given the very bullish sentiment readings combined with increasingly violent price action, I view those bets as worth the risk. I will, nonetheless, be taking an objective look at the broad market in my Weekend Video Strategy Session on Sunday before the big game. Have a great weekend and I will see you there!

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