Friday, May 8, 2015

May 8 - Shorts get crushed

From looking at the action now looks like lots of bearish people were betting on a repeat of last month's reaction to the jobs report.  SPY gapped up 1% and I sold 3/4 of my longs into that strength as it hit the top end of the sell zone I had planned.  VIX so far is getting crushed.

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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