Friday, October 10, 2014

Oct 10 - Fri recap

Two aborted long attempts and finally jumped on board the short side towards EOD.  Looking for some kind of bottoming next week if things can churn for at least a few days within a zone.  Otherwise, looking for more downside.  the 190 level in SPY might be a bit overrated and perhaps overdiscussed (too many people expecting it to serve as support might be its underdoing) as NYA, NASDAQ, RUT have already broken support.  I am expecting that SPY does the same but given how oversold we are, a massive short squeeze is lurking so best to monitor one's short positions.

I am currently flat and waiting for some churn and lower volume to look long.  Also looking at shorting VXX.

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