Monday, July 6, 2009
VIX printed a black exhaustion canlde today. Breadth was mixed and volume not entirely strong and the close while not great, looked promising.
On the indexes lots of reversal candles.
Looking for SPY to get to the upper end of its consolidation range at around 92-93 and assessing whether to go short.
Right now sitting on modest long position for short term. If we get a large pop tomorrow, will definitely unload a large portion if not all of it. If we gap down again, this set up will probably have failed but the odds of a third gap down in a row seem more limited as the market held some ground today.
Very bearish now and looking for a retest of lows in 2-3 weeks. I have puts in SPY, AAPL, GOOS, and GLD. Calls in RIG every major dro...
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...