Tuesday, September 23, 2014

Sept 23 - Morning update

Exited SPY puts for +61% gain at 3.83, 3.85.  Safer bet would've been selling on open (which cost me maybe .20-.30 when it looked like gap was going to be filled, not an immediate sell like yesterday.

Reason for selling was the buy signal triggered on 60 min and 30 min.  We could definitely go back down but wanted to book gains.  Still think there is technical damage here but would like to see the 30/ 60 min indicators to reset before taking a position, long or short.

If today comes in as a pause day with lower volume and posts a hollow reversal candle with SPY down .05-.15%, I will probably consider going long for a day.


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