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
Very bearish now and looking for a retest of lows in 2-3 weeks. I have puts in SPY, AAPL, GOOS, and GLD. Calls in RIG every major dro...
I am liking the set up for XLE a lot now and XBI I am hoping for some settling so I can board the train. Maybe within 1-2 weeks? Missed ...
Didn't make any changes Fri except close the GLD short as the miners + silver started showing strength and an oversold signal on the 2 h...