Wednesday, October 1, 2014

oct 1 - stopped out of longs

Got stopped out of SPY calls at 18% loss right when we dipped below the open.  I was betting on a gap up and probably held them too long.

SPY barely hanging in there.   It is threatening to crack its lower trendline which it has tapped many times already. The other indexes look damaged and broke their bullish set ups. Interestingly, IWM is beginning to look interesting as it is fairly strong, relatively speaking on the day.  VIX also isn't showing a lot of strength considering this down move.

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