Wednesday, October 15, 2014

Oct 14 - Wait and see - potential broadening wedge

Printed a small candle today as pause day.  $VIX thrashed around somewhat undecidedly and IWM and transports showed good strength.  On the down side, oil and XLE continue to get crushed.  Until that stops, will be hard for SPY to get moving again.

Assuming we hold here, there is possibility we go to all time highs.  Otherwise, many possibilities for re shorting the market as enough technical damage has been done.

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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...