Wednesday, May 27, 2015

May 27 - Buyers step in once again

The last 4 times we have seen a big sell off concluded by late day buying surge we have seen at least 2 days of upside.  So far it is setting up for the same.  After getting stopping out on the open yesterday, I re-entered longs EOD.  Although this is a good set up, at some point it will probably fail dramatically with a gap down instead of a bounce.  In addition, it isn't good that we dipped back into consolidation after breaking long time resistance.

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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...