Friday, October 10, 2014

Oct 9 - Potential very short term long set up

If things gap up or stabilize in the morning, buy signal on 30 min will probably be triggered and perhaps once again another strong spike up.  Positive divergence and even today, lots of grinding and small upward spikes that were being quickly sold off, maybe sparks that might catch for another pent up squeeze.
There is a lot of chatter about the market tanking but a lot of this froth looks like bottoming starting even if we do end up lower than here temporarily.  Lots of favorable set ups with obvious stops out there.  DIA is sitting right on support so if it doesn't turn immediately in the morning, it is an easy fold.

 



No comments:

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...