Tuesday, September 30, 2014

Sept 30 - Post close update - mixed signals

A lot of chop today and signals flashing in both directions.  The early VIX sell signal was invalidated as was the early buy signal on the daily in SPY.  Busted signals at least near term add some bearishness to the scenario.  Although still sitting long, I will need to see Q4 buyers come in strongly tomorrow or I will reconsider.  On an intermediate term basis, quite a few decent long set ups (potential diamond continuation patterns in QQQ/ DIA), unfortunately most of them come with a lot of noise so it has been difficult to make out good entry points.

There are some indexes such as NYA which are setting up interestingly for a bounce, others which are wounded but still generally bullish like QQQ (potential diamond formation)/ SPY (falling wedge), and others such as IWM which look like they have no bottom in sight.

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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...