I closed out my TWM longs early this morning and SPY hit my potential reversal level on a dime. It is possible the market recovers this afternoon to set up upside into next week. Either way, I am waiting to close for more info and am currently flat.
SPY did a good job of confirming its sell signal from yesterday but I wouldn't get aggressive if at all going short here as these descending wedges as they progress get increasingly whippy like a stretched out rubber band that can snap back violently if it slips it of your hand.
Looking ahead I may be looking to go short post OPEX as it is one of the most bearish OPEX historically speaking, weeks of the year.
I am heavily long calls in $C, $BAC, $JPM for late Jun, July, Aug. Mad conviction here.
I have been stopped out twice in last few weeks trying to short GLD. I have a pretty sizeable position of Nov/ Dec GLD/ GDX puts. Also ha...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...