Excellent short opportunity on SMH

Not trading advice.

I am short the SMH

Currently with $196 puts

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Open Gaps just from this week.

Another down near $175

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액티브 트레이드:

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Big moment coming up here. Bearish pennant formation from the open, the likely move here is to the downside into the close.

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Lower High for the RSI on the daily chart. Rejection zone here.

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Staying short here, anything good on vaccines or good for value to come out on news and SMH and semis will continue to get sold as a proxy for profit taking, overbought (expensive P/Es), etc. Pick your reason, but Semis run is done in my opinion.

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