Friday, August 24, 2012

Potential SPY long

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

Bounce possible soon

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

Potential Short SPY

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

July 11 - GLD sucks

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...