Feeding off of pain and euphoria. Find me on Twitter @greenlander1
Wednesday, August 5, 2015
Aug 5 - Equities blasting off
I flipped short to long premarket as it looked we were going to get a serious squeeze. Volume is fairly strong and it is possible we see retests of ATH but we will have to see whether this spike holds up. I noticed this 30 min chart last night and realized that my short position may have been in trouble and I may have given too much bias to the VIX low. AAPL while it has suffered major technical damage and may be setting up for a bigger fall looks set to bounce for the short term.
Update 1230pm: IWM, SPY looking very weak so this bounce could be temporary. I got stopped out of longs and will reassess EOD.