This week's outlook for equities looks mixed. Lots of overhead resistance but a lot of upside momentum. post OPEX weeks have been a bit weak this year so another wrench if possible into the strongly bullish action. For that reason, I have been flat for a few day from equities after taking a short position earlier in the week that I quickly exited.
Sitting now in fairly large put spreads in GDX, GLD expiring end of month and smaller calls in UUP first wk of Nov.
Pretty good sell signal on daily.
SLV looks like interesting short if a bit early on the weekly frame
SPY is not a great bet in either direction. May short if it hits the second orange bar.
USD made a weak bounce and only recently its upward movement has hurt precious metals.
Sunday, October 18, 2015
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...
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...
Jumped back in on the open as it looks like we have a short term trend change. Annoyed it decided to leave without me but worth the chase a...