Friday, June 29, 2012

BLAST OFF!

Euro decision causes massive short squeeze. Close above critical thresholds and trendlines. Very overbought on 60 min timeframe so very short term pullback is possible. In small short position, seeking to go long again. Intermediate trend is now up.

Thursday, June 28, 2012

Trapped between 131-133 in SPY

VIX printed black exhaustion candle and big early morning drop was mostly recovered. So still with slight bias to upside. With expectations very low for euro resolution, any news could push things up a lot. Now trapped in narrow range and a close out of the zone will probably indicate much more strength in that direction.

Wednesday, June 27, 2012

IWM potential long

Since early June low, increasing volume going up, decreasing vol going down. Break upward out of channel could mean a solid move. Overhead resistance in yellow

SPY LONG TO POTENTIALLY MID JULY

Yellow zone is resistance where there is confluence of 50% retracement and trendline. If it clears this zone, could go significantly higher. Eurozone crisis may be already priced in to a large degree in the market.

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...