Tuesday, February 17, 2015

Feb 17 - Possible for major upside

Last week we broke decisively upward from the long term consolidation zone.  In particular, QQQ and IWM look promising having established nice bases and are leading the move up.  We are also heading into very seasonally positive months of Mar-Apr.  On a short term time frame, the tape is trending very clearly.  For targets, I will looking at the roughly the upper trendline which has often produced consolidation/ pullbacks but that is quite far away.


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Feb 17 - Large short position now

Very bearish now and looking for a retest of lows in 2-3 weeks.  I have puts in SPY, AAPL, GOOS, and GLD.  Calls in RIG  every major dro...