Tuesday, November 11, 2014

Nov 11 - Gold settling, indexes continue to grind up

Gold looks like it may test broken support now resistance and perhaps bounce over it.

The indexes continue closing bullishly and QQQ looks primed for a move out of consolidation.  If it can make another solid close, it might have eliminated the chance of an island reversal which I was considering earlier.

As before, we continue to be very overbought but the tape continues to reflect aggressive buyers on dips.

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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...