Monday, March 23, 2015

Mar 23 - Weak volume near resistance, IBB sell signal confirmed, GLD continues up

Indexes are largely positive today but with a very large drop off in volume.  Almost all the indexes are close to resistance, $NYA, QQQ, SPY, etc so reason to be cautious especially when $VIX has ticked up today.  Transports showing major weakness today so also another reason to be watchful for reversals.  Otherwise the 10-30 min frames look fairly positive and today's activity looks more like consolidation.

IBB confirmed the short setup nicely and my position was increased to a mid sized one.  Still holding GLD and very carefully watching the 1/2 position of QQQ which if I see something I don't like might be let go.  One possibility I am not discounting albeit less likely is that the market stalls right at resistance and blasts off when people think it is about to reverse.

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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...