Tuesday, October 7, 2014

Oct 7 - Bearish scenario revisited

Needless to say, I got tossed out of my longs via SPY calls for a pretty sizeable hit at -30% very early today.  When we started to consolidate into that triangle, I re-entered short via SPY Oct 18 puts 198 which are now up 22%.  Very messy day which broke the bullish argument that seemed pretty feasible up to yesterday.

Looking back at NYSE and RUT indexes, the bounce at support was a small one and we continued further down below support.  SPY is looking to retest 190 very soon.

Looking at the increasing daily ranges, this downward move is very different from the early Aug move where the moves had less range and froth.

Just a hunch but we might end up seeing some major volatility and short squeezes on these down moves because of the increasing range.

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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...