Friday, August 24, 2012
Went long around 1030 am after seeing spikes up on 5 min chart. I am pretty bullish going into pre Bernanke speech and pre holiday week. Also we have burned off a piece of the overbought conditions which should enable SPY to retest previous highs around 143
Exited shorts at close yesterday as we are oversold on 60 min stochs on SPY and VIX. Vol has not increased on this down move so i am leaning towards a bullish last week of month. As we have been in uptrend for some time im also leaning towards a push of buyers on this first intermediate term pullback.
Tuesday, August 21, 2012
Went short midday after seeing sizeable vol spikes on down moves. Stochs are maxed out on daily as they have been for some time. VIX finally made sizeable move in some time. Of notice was vol spike in QQQ. Could be start of breather for few days. Looking for 138 139 in SPY and will reassess if and when it gets there