Saturday, September 15, 2012

Short term pullback is in order

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.

1 comment:

Greenlander said...

Also sold sept 133 Calls so apart from GLD calls Im net short via USO short.

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...