Tuesday, September 16, 2014

Sept 16 - Tues recap - blast off!

Very decisive bullish action with volume to match in SPY, DIA.  QQQ made yesterday's action look like a bear trap.  Was busy at work this morning so missed the big move up and probably wouldn't have been able to hop on the runaway train after it pulled a bull flag in the early part of the session (which I unwisely decided to short w minimal gain).

While encouraged by today's action, was hoping for a convergence between oversold conditions and the FOMC announcement.  Tomorrow looking for a retrace to SPY in 200.0 zone for 1/3 pullback and go long.

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May 15 - Closed out IWM puts for +120% and picked up DAL and HD Jun calls

I'm going to let the market do its thing this week and probably stay away from new positions until Friday unless something very good pop...