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.

Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

I have been stopped out twice in last few weeks trying to short GLD.  I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...