Wednesday, January 28, 2015

Jan 29 - Potential breakdown

Toward was set up for a bounce day but instead got a heavy distribution day, the first since December.  It is looking more probable we retest lows from December and possibly below.  Going into next week there is a pretty strong chance of continued downside.

DIA broke down out of its consolidation while SPY/ QQQ while still within their respective zones, are threatening to challenge them bottom levels soon.  After multiple tests they often fail.

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Mar 17 - Long $QQQ

Got into decent size position of $QQQ 175 calls @ .22 expiring Fri and smaller $amzn and $nflx.  Still in $shak and sold off $rig for only 5...