Friday, August 24, 2012
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.
Still holding $RIG Mar2 and Mar16 calls which are up 100-200%. $shak settling nicely and I have plenty of time with Jun 45 calls
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...