Monday, May 11, 2015

May 11 - Listless open

So far a noncommittal open which doesn't favor either bears or bulls...yet.  Although I am currently short there is a chance that we finally break out of this consolidation zone and move up although more limited.

A good read that was in line with my feelings regarding the exaggerated VIX move from Rob Hanna.
quantifiableedges.com/what-fridays-big-vxo-drop-could-mean-for-monday/

1100am update:  A bit more weakness and the 30/ 60 min frames triggering more strongly sell signals.  Will remain to be seen if we close red though.



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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...