Thursday, October 15, 2015

Oct 15 - Equities chop, potential USD long/ GLD short

I dumped SPY short little bit after open.  Looks like chop mode through OPEX and Monday is a historically very strong day so looking to wait until Mon close to short equities.  Gold and gold miners looking like a very attractive short but not quite there although very close.

We got weak follow through yesterday and none today to downside which is why I am waiting until week to re short.
 USD super close to a strong support zone.
 SPY didn't hit my stop but I pulled the plug on this one anyways.
 UUP also looking interesting and calls are well priced with almost no time premium.

2 comments:

some0ne said...

I think we bounce of 204 and go lower on spy.
Do you think we test 24th august low again? What's you mid term outlook on market?

Greenlander said...

Not sure but def not making bets looking that far in advance. I think we should watch if resistance holds at 204-205 in SPY and take it from there. Today's move was very strong so I wouldn't short here until we see some signs of exhaustion. When daily sell signals fails that speaks to the underlying market strength.

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...