Friday, April 10, 2015

Apr 10 - Selling SPY longs at potential resistance

Sold a batch of SPY calls I picked up two days ago for solid gain.  Why?

-sell signal on 30 min frame
-near sell signal on 60 min frame
-at a level in VIX where it oftens reverses, look at CCI, RSI, and price.  It has bounced usually during last few months
- SPY also near resistance and may consolidate, but also may push to ATH.  Although I'm bullish I think odds aren't great on short time frame.

Looking at maybe shorting gold/ silver as both weekly and daily showing black reversal candles.

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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...