Tuesday, August 18, 2015

Aug 18 - Potential bear trap

This is only for tomorrow, I am less excited about this move off last week's lows but today the bears might be getting roped in for a spike up tomorrow, especially considering there is usually some OPEX shenanigans.

SPY backtesting upper trendline for what it's worth.
 SPY has always moved up (yellow box) except once (green shaded box) when it prints an inside day on lower volume.  Something for bears to be aware of.  This is only a 1 day edge.  After that, it's anyone's game.

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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...