Monday, September 21, 2015

Sept 21 - Pause day

Very low participation today unless the last hour suddenly wakes up.  Still short SPY and not planning on making additional moves.  I have to admit though seeing the blogosphere with so many calls to a retest of lows does not make me terribly comfortable and I've set my stop at 199.3 a bit above the overhead gap.

Could be in a bear flag.  We should know by tomorrow/ Weds latest what this is.  One positive for the bears is CCI/ stochs bottomed out but we haven't seen a sustained bounce just a small one on weak volume.

Very weak volume and an exhaustion candle.  Stochs/ CCI confirming so far.



6 comments:

Greenlander said...

Anyone still short now?

some0ne said...

I sold 200 Oct 15 calls last week . up about 35-40% but not sure if I should hold. Not much left in sept and am afraid to hold on through October. Regardless they have to raise rates sooner than later.

Greenlander said...

Interesting. Naked short? Or sold spreads? What was your price?

some0ne said...

Naked. I'm a gambler. Sold 50 @ 3.50. Last Thursday was a fun ride though. Spy seems to be moving up after hours.
Long term I must say 1700-1750 has to come!
I like to look for unusual volume on options. Noticed aeri last week calls but was chicken. Missed the boat on that one.
Your call on Thursday was unbelievable!

some0ne said...

love this stuff, spy down over 2 pre market...aug 24 lows here we come. you have to inform me if you think we are going lower or at a buying opportunity. My opinion still syas we must hit 1700-1750

Greenlander said...

Wow. Very interesting. I sell spreads now and then but never had sold naked calls. I will do what I can to let ppl know what my read is. I am trying to not get too married to the idea of an overshoot of previous lows bc it seems like so many ppl are expecting it. We'll see!

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...