Monday, December 1, 2014

Dec 1- Monday recap, sell signal confirmed

Very wild day in precious metals overnight into today.  Reentered NUGT premarket after being stopped out Friday morn.   It looks increasingly possible that we have an intermediate low in GLD.  For sure both bulls and bears are having a hard time if trading on short time periods with these violent moves.

The indexes as expected dipped and looking to hold SDS at least through this week although expecting the market to recover by mid to late Dec.

The dollar also dipped once again threatening to pullback as the long side of boat could be overly crowded.

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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...