Monday, May 4, 2015

May 4 - Getting closer to upper end of range

Exited SPY shorts pre and looking for a better entry.  Looking back, I definitely jumped the gun on my Friday entry.  Will wait to see how things develop but if we tick up a bit further we will have a better entry to short based on 1/2 hr frames.  That said, it is possible that the market finally breaks out to upside as the indexes keep grinding up and strong buying may finally materialize.  Going to wait until close to see how the market reacts to this early push up.

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Jan 20 - Equities caution signal, short SPY, NFLX

Call buying has come back and very good chance of a pullback here