Continuing with my hedge in this mixed up market...
In addition to MYL, I also added BBVA as a bearish position. Here's the chart:
This one is a little different than MYL. BBVA is a foreign financial stock, and anything (especially foreign banks) remotely related to the financial industry is just taking it's lumps right now. So, I think that's going to drag this stock down as well.
Today BBVA broke down through a small level of support and I'm looking for it to continue down to it's recent low. We also have the 50 and 200 day moving averages just above the most recent high. The stop is just above that recent high.
I bought an October 11 Put for $1.15, and am looking to make a profit on this one as well.
Romans 8:37 "in all these things we are more than conquerors through him who loved us."
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