Waiting in the Weeds

I am have held off on new trades today, thus far, as the action still smacks of choppy behavior. However, I am entertaining a whole host of fresh trade ideas, including potential longs in JNUG and JO. In addition, looking to go short the indices and long volatility is on my radar if we see weakness this afternoon, potentially trapping longs who chases the rally into this morning. The biotech short idea, via BIS, is also in my crosshairs, especially if GILD rolls back over this afternoon. But a big key in this type of market environment is not forcing trades in there. TLT gapped down below its 20-day moving average, breaking a rising wedge seen below on the daily chart. So, another setup is TBT or TMV, the bear ETFs, going forward as long as Treasuries do not immediately recover.