Wednesday, July 22, 2015

July 22 - Potential DUST short

Indexes are printing reversal candles as of now so unless we get a late hour selloff, risk/ reward for SPY shorts and for other indexes is becoming less desirable.  I entered DUST 33 Aug 21 puts based on the reversal candle and weakening selling volume over the last 3 days in GLD.  It is a risky trade but we could see a fairly major reversal within a week.

Closing update:  Looks like we have a decent chance of a bounce in the indexes tomorrow based on the reversal candles, black VIX, and weak volume.  Only problem is that we had a strong sell signal triggered yesterday so the bounce may only be temporary.


smoothy said...

No bounce today GL...follow through o downside instead

Greenlander said...

Yup still going down. Much tougher to time bottoms in commodities than equities especially something as skittish as PM's. Vol diminished again so added little more to my DUST short position.

Aug 25 - Re-entered (again) GLD short, long LVS, AMZN, NFLX, SHAK

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...