Wednesday, July 15, 2009
We still got a H + S pattern albeit a very unusual one. For lack of a better word, a 'bowtie'.
We are potentially mirroring the move up, just in reverse with a broadening wedge pattern. Whereas the activity from May was a tightening wedge and the head being the failed breakout pattern.
Although the levels are all over the place, conceptually this is a pretty complete pattern. IWM, SPY, DIA, and even QQQQ to a certain extent exhibiting bowties.
stopped out of GLD yesterday for -25%. Holding off on reentry and maybe will enter if we drop another level. SPY on the other hand is crus...
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...