Friday, August 7, 2015

Aug 7 - Closed 2/3 of short positions

On the daily, we tapped the lower bollinger in SPY and poked the upper BB in $VXO.  Also getting a buy signal on the 60 min frame although on strong trends these get invalidated.  I still think there is downside for intermediate term but will collect profits and hopefully get a bounce to short into next week.

SPY tapped lower BB and volume is a bit weaker so participation might be temporarily waning.

Volume much weaker on QQQ

VIX not quite at target but going to wait and see.

$VXO running into upper BB which has often led to equity bounces even if very temporary


No comments:

July 11 - GLD sucks

stopped out of GLD yesterday for -25%.  Holding off on reentry and maybe will enter if we drop another level. SPY on the other hand is crus...