Thursday, March 26, 2015

Mar 26 - Closed IBB short for +8% gain and GLD long

IBB is pretty close to what has been typically capitulation volume and is stalling a bit so decided to close out the position.

GLD although continuing to move up, is printing a second exhaustion candle and volume has been thin.  Could move up but I am concerned that it could correct like the previous events in yellow.  Not quite at the target zone but going to play it more conservatively.

$VIX also hit resistance and may signal a bounce in equities although we will need to see the close.


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