Monday, July 6, 2015

July 6 - 'No' vote being shrugged off by US equities markets

I can't post charts since Stockcharts is down, which is extremely untimely.  Right now, we are seeing a extremely strong recovery from futures being down -1.5% to about even in SP500.  VIX is also printing a black reversal candle.  Despite what was thought to be a worst case scenario for Greece the equity indexes in US are holding up extremely well, much stronger than I would have thought.  I was contemplating going short today for an intraday trade but clearly I was looking for the wrong trade.  I am flat and am inclined to think that we are in a bottoming phase here and if we hold roughly around here I will go long EOD via shorting VXX with deep in the money puts.

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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...