Thursday, April 2, 2009
Still havent broken out.
$BKX printed a noncomittal candle and it also did not go up too much considering how much the indexes went up. Not super encouraging.
Now the question is we see a breakout. Based on its current zone, it needs to break out tomorrow or it will drop deeper into the box.
Given that there are black exhaustion candles in XLF, UYG, etc. it might be a tall order.
On indexes, v good volume but signs of exhaustion towards the close so breadth wise, positive but the level of strength varies across the board. IYT for example had a v big day today.
I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...
I have been stopped out twice in last few weeks trying to short GLD. I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...