Wednesday, April 15, 2009
Not saying this with huge confidence, but perhaps a bit more upside in SPY, really only 1 or 1.5 days more then a breakdown out of this wedge or at least to the lower part of this potential upwrad channel. Also possible we fall right away, but I wasn't entirely convinced it was pushing down v hard today. Mixed breadth today, transports and energy didn't sell off too hard.
Note the angle of some of the indicators...more of a gentle drift down if you look as the last 3 days as a whole...despite the strong downward bent of today.
thurs 635 am PST: Sold all longs, SPY calls and TNA in premarket and open.
Will maybe look for a short entry tomorrow.
Got into decent size position of $QQQ 175 calls @ .22 expiring Fri and smaller $amzn and $nflx. Still in $shak and sold off $rig for only 5...
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...