Friday, September 21, 2012
Wednesday, September 19, 2012
Tuesday, September 18, 2012
again fairly bullish low vol low volatilty consolidation. Although i would like to get more juice on USO short the general strength in indexes makes me cautious. GLD bounced nicely today and i recovered most of the losses from yesterday. I wouldnt mind seeing a few more days of consolidation to set up a strong base moving forward.
Monday, September 17, 2012
We got the start of our pullback. Commodities pulled back and a solid drop in USO on big volume. Made the incorrect decision not to take partial profits on GLD calls which cost me a bit today. Otherwise the pullback across indexes was minor and on low volume. A low volume consolidation for a few days would be bullish
Saturday, September 15, 2012
Shorted USO at close as it printed black reversal candle outside bollinger. We are really overbought on short term. That having been said trend is firmly up. Big volume has come in recently on the major indexes and making multi year highs. The pullback i believe will be short or more of consolidation. Still sitting on GLD via nov 155 calls which in theory could retest previous highs.