Wednesday, December 3, 2014

Dec 3 - SPY recoups losses, GLD still rebounding

Stopped out a bit above cost basis on SDS when SPY pushed above its gap close.  Probably should've taken 50% profits on the previous close as the down moves haven't generally appeared on the first try.  It is possible we will see repeated drops then immediate buying into year end and need to wait until January for the market to ease/ consolidate.

HYG: SPY short setup looks for another setup and until it does, I will continue to trade the indexes lightly.

GLD looks to move up and if we finish around where we are, will be poised for more upside in the intermediate term.  Re-entered NUGT slightly below where I was previously stopped out and as always expecting a lot of rollercoaster action.

No comments:

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...